CONCOR: Play The Channel

383 4
Price has been very consistently respecting the channel. Currently hovering near the lower end of channel.
Anticipating an up move from 1290 - 1305 support zone towards 1380 - 1385.
Also notice the bar frequency, It can used to project the target date near 6th Sep. 2017
Always have an escape plan if trade goes wrong.

Trade safe, be healthy.
Hit like if this information is useful.

Comment: Nice bounce from 1294 to 1312 already
Comment: I am expecting a 5 wave downmove, currently in 4th
Comment: took partial profit @ 1317
Comment: I ll exit on 1330 or 1308 whichever comes first.
Comment: I am out at 1330
Comment: I ll wait for another buying opportunity at a cheaper price.
Comment: My expectation was for a pullback to buy but the strong momentum pushed it higher.
No problems..I had a nice profit and that is important.
Comment: Buy order @ 1329
Comment: Order cancelled, I ll look for price action.
Comment: In at 1341 SL at 1337
Comment: Looking for 1354-1355
Comment: Out at 1354.50
Comment: Nice 14 point scalp, still flying.
Comment: I tried quick in and out in this trade due to the only warning sign that the current move from 1294 to 1355 has been supported by relatively low volume.
Comment: Target achieved
can you please review for tomorrow's scenario? will it cross 1400?
Bravetotrade 1941rohan.sharma
@1941rohan.sharma, only the buyer seller sentiment will answer your question tomorrow.

The good part is it is still holding the channel shown in my chart above. It gave respect to the exact point 1341 today and had some covering.

I think one can try buying with stop below 1341 and wait to see what the future course of action will be.

Go for smaller targets if u r interested in intraday moves. Look for 1380/1390 targets.
great analysis ji....
@Kums, thank you so much.
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