Observations: 1) On 30min Time Frame, Still it has been taking support from parrallel accending support zone from long time. And it closed just above that upper trendline same like the previous trading day.
Please refer Chart below: 30min time frame.
2) On 1hr time frame, it is still in accending triangle pattern. Breakout of 1260 level on hourly time frame will give good up move and can be also buy entry for positional buy trade.
Please refer Chart below: 1hr time frame.
------------------------------------- Trade Setup for Date 23-08-2021: --> Most of the trade setup and trade level will be same as previous level. One Trendline-2 has been added.
1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.
2) Everything is mentioned on the chart. I hope it is easy to understand.
3) All the levels will work as support, resistance, entry and target w.r.t price action working near that level tomorrow.
Thanks for the level-by-level chart. I have marked all the levels on my trading chart and added a few alerts - now it's simple to follow and act.
15 min chart for Intraday & Swing, right?
Generally I am posting idea mostly for intraday but same can be worked as swing.
Also I am posting in 15min time frame to have proper idea about levels. And I am using 15min to judge the breakout and price action near that level and then also using 5min time frame at the same time as well during the trade.