Biocon time to go long?
1. Daily shows 50% retracement of the rise since 23rd March
2. 30 min 3 Line break and 30 min Renko developing up bricks
3. Fairly tight SL below low of 7th May candle - 612
...Perhaps after Karnataka election results and the Iran developments (both these are potential time bombs though markets seem to be ignoring it)
1. Daily shows 50% retracement of the rise since 23rd March
2. 30 min 3 Line break and 30 min Renko developing up bricks
3. Fairly tight SL below low of 7th May candle - 612
...Perhaps after Karnataka election results and the Iran developments (both these are potential time bombs though markets seem to be ignoring it)
Trade active:
Signals were good today so went long @622 (futures price). Holding
Trade closed manually:
Closed @631 (futures price). 9 points per lot
Trade active:
Again long @630 with SL @629 yes just 1 point!!
Trade closed manually:
Closed @639 (futures price) another 9 points per lot. So 18 points since yesterday. Great risk/reward ratio - SL was always 1-3 points only since I try and time entry and exit precisely.
Comment:
Long @633 (futures price) SL 632.9
Trade active:
Target 648 (futures price)
Trade closed manually:
Closed @ 641... totally about 26 points profit per lot since trading this apparent recovery...
Comment:
Went long this morning @634 and closed @648... almost 40 points per lot since May 10th. Lot size for Biocon is 900 in futures.