Cipla: Positional and Swing pick!!!
Method: Top-down approach
The uptrend on the monthly time frame,
Upside channel breakout on weekly time,
Symmetrical triangle pattern on the daily time frame
Enter if price closes above triangle pattern confirmed by good volume
Remember the rule: Trade what's happening...not what you think is gonna happen
Risk management:
CMP= 957
Enter at 970
Stop loss at 945
Target -1025 / 1050
Risk only 2% of your capital
Risk: reward = 1:2.2
Psychology
Note= Trade with probabilistic mindset no matter how much analysis you do there is always 50-50% chance
Our main objective is to '' Cut your losses short and let your profits run.''
Remember to be profitable you don’t have to be right every time,
you just have to be right big and wrong small.
Method: Top-down approach
The uptrend on the monthly time frame,
Upside channel breakout on weekly time,
Symmetrical triangle pattern on the daily time frame
Enter if price closes above triangle pattern confirmed by good volume
Remember the rule: Trade what's happening...not what you think is gonna happen
Risk management:
CMP= 957
Enter at 970
Stop loss at 945
Target -1025 / 1050
Risk only 2% of your capital
Risk: reward = 1:2.2
Psychology
Note= Trade with probabilistic mindset no matter how much analysis you do there is always 50-50% chance
Our main objective is to '' Cut your losses short and let your profits run.''
Remember to be profitable you don’t have to be right every time,
you just have to be right big and wrong small.