In this Idea I'm going to share the simple price action trade which I have taken the May month in the stock D-MART.
Before taking any trade a trader must have find at least 3 confluences which align in the same direction so that we have a clear vision of the particular trade either it's a short trade or buy. By doing you are following a number of certain rules that will help you to make your trading emotionless and more disciplined.
For me I'm fan of price action trading which undergoes through Trends, S&R levels, Candlestick pattern, Chart pattern and sometimes EMA also.
In this trade of D-MART the price was facing resistance continuously from Area-1 and taking support from Area-2 at the moment when it broke the support level it made a proper morning star pattern at a very crucial S&R level which I had represented by the purple horizontal line.
Human nature and psychology could never change so this pattern can come again.
At this point we can easily see the confluences-
1)Trend- Reversed
2)S&R LEVEL
3)Candlestick pattern
Entry- 2809
Stops-2668
Targets-3090
R:R = 1:2
-NITIN
Before taking any trade a trader must have find at least 3 confluences which align in the same direction so that we have a clear vision of the particular trade either it's a short trade or buy. By doing you are following a number of certain rules that will help you to make your trading emotionless and more disciplined.
For me I'm fan of price action trading which undergoes through Trends, S&R levels, Candlestick pattern, Chart pattern and sometimes EMA also.
In this trade of D-MART the price was facing resistance continuously from Area-1 and taking support from Area-2 at the moment when it broke the support level it made a proper morning star pattern at a very crucial S&R level which I had represented by the purple horizontal line.
Human nature and psychology could never change so this pattern can come again.
At this point we can easily see the confluences-
1)Trend- Reversed
2)S&R LEVEL
3)Candlestick pattern
Entry- 2809
Stops-2668
Targets-3090
R:R = 1:2
-NITIN