recent high 431
Method to calculate next level
(sqroot(431) -1 )^2 = 391
Draw horizontal tangent to SMA20 (simple moving average of 20 period) , i.e. draw horizontal line at slope of SMA20 and we get 382
now 382 is also equal to :-------------
431 - 1.23 * (431-391) = approx 382
so we have two important levels 391 and 382
Method to calculate next level
(sqroot(431) -1 )^2 = 391
Draw horizontal tangent to SMA20 (simple moving average of 20 period) , i.e. draw horizontal line at slope of SMA20 and we get 382
now 382 is also equal to :-------------
431 - 1.23 * (431-391) = approx 382
so we have two important levels 391 and 382
Trade active:
Now 391 is support level. Keep target as 401 with trailing stop loss
Trade closed manually