Short Position below 1200. Aggressive short below 1175.

Sideways market on hourly/mins time frame. Looking to short the range breakout below 1200 and further if the price reaches to 1175. Would stop looking for shorting opportunities if price goes above 1250. Till then, just try to follow the channel resistance.

Trade active:

Breakout occurred at 1200. Initially SL kept near 1210. Initial Take Profit near 1150

Comment:

It's a risk free trade as of now. Keeping the stop just above he previous swing low as the target is just 5 points away. We will make a clean 50 point trade which is ~4% on the down move.

Trade closed manually:

Trade is closed. Entry was 1200. SL 1210. Exit 1160. Target missed marginally, still made 4x on risk taken. Good night, folks.

Trade closed: target reached