So some fellow traders said, ohh so your zones are just a support and resistance areas of previous day. So nothing special there
Well you can try that and maybe it will work for a day or two in a week... but can you really get that exact touch and reverse in those areas almost every single day?? Can you really trust those regions with your Stoploss, like I do?? (sl hit and then reverse doesnt really happen to me as often it happens to most out there)
and what about the risk to reward?? can those methods statically show a 1/3 or 1/5 Risk to Reward on average??
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In the zone, but avoid shorting. expected to be choppy
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Short, sl at 31870/31872
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target nearest lower zone
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move sl to cost, doesnt look very promising
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my sl, strictly now at 31855 (relatively on fut)
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low of 31820, (this is not a zone method trade, was testing a new indicator on nifty. so a trade relatively on banknifty)
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as there is no setup involved, its safe to book the current profit. This was just taken on an indicator basis. ( currently more than 1:1 even under worse case scenario)
Trade closed: target reached
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Unable to get an intraday view on markets, otherwise this was a good entry. Also timing is favorable too, around 12.30 IST we can get good swing.
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second opportunity :) now even nifty looks favorable (also even nifty is in the zone now)