Buying Opportunity in BNF
Updated
All the details are mentioned on the chart
Till now market showing bullish bias
-->There is just one more check box left
-->If price can give a closing above previous high and if it can retrace min 0.5 -0.618 % then we can enter for a long position.
-->No trade if price comes back without creating a higher high & View will be negated if it cross bellow 40200 before breaking previous high.
Managing the trade:
If the trade goes in our way
*Exit half Quantity 1:1 Risk/Reward Target and Shift to SL to cost
*Exit Half of the remaining with 1:1.5 or 1:2 Risk/Reward (by looking at momentum) and trail the SL.
*Exit remaining with trailing Stop loss.
*SECURING THE TRADE AND PROTECTING THE CAPITAL SHOULD BE YOUR FIRST PRIORITY.
*NOT A SUGGESTION VIEWS ARE FOR EDUCATIONAL PURPOSES
***If you like my analysis let me know by giving boost or a comment.
I will be updating
Till now market showing bullish bias
-->There is just one more check box left
-->If price can give a closing above previous high and if it can retrace min 0.5 -0.618 % then we can enter for a long position.
-->No trade if price comes back without creating a higher high & View will be negated if it cross bellow 40200 before breaking previous high.
Managing the trade:
If the trade goes in our way
*Exit half Quantity 1:1 Risk/Reward Target and Shift to SL to cost
*Exit Half of the remaining with 1:1.5 or 1:2 Risk/Reward (by looking at momentum) and trail the SL.
*Exit remaining with trailing Stop loss.
*SECURING THE TRADE AND PROTECTING THE CAPITAL SHOULD BE YOUR FIRST PRIORITY.
*NOT A SUGGESTION VIEWS ARE FOR EDUCATIONAL PURPOSES
***If you like my analysis let me know by giving boost or a comment.
I will be updating
Note
price at mentioned levels but better to stay away from this trade as it almost closing timeNote
Any way I will consider this trade for a live testing.
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