Trading_hawk

Simple Trade Setup | HDFC | 13-08-2021

NSE:HDFC   HOUSING DEVEL FIN
NSE:HDFC

It has been trading in that zone since last 3 days. And today it closed below 2665.

Keep RSI indicator in watch. If it break out the 2668/2670 level and RSI also breakout that trendline then we can see an upmove in the stock and it will be a quick trade for buy side.

All other targets and levels are mentioned on the charts. Hope it is easy to understand.

Do comment your doubt or suggestion.

All the best for tomorrow.

Comments

The levels which you mention, are they based on 15 min candle close level or just trade above that level and then to enter and for how long shall we wait post market open to cut noise (5min or 15 min)
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Trading_hawk bubblyBear75400
Hi @bubblyBear75400,

Thank you for your comment. I generally use 15min & 5min candle to judge if it breaks the levels. And then judge the following candle after that and then take the trade.
For example if a 15 min Green candle just closed above 2687 and then I will turn the chart in to 5min time frame and judge the price action, volume and RSI. And if I find that 5min candle is making red then I will not enter in that moment. And then next 5min candle goes green with good volume and crossing the 2687 level then I will enter the trade at the closing of it or in the next candle of it.

So It will be 15min candle to break then next 3 candle of 5min for judgment and entering or exiting the trade.

It is better to avoid noise of early 15-20 min.
+2 Reply
@Trading_hawk thanks for the response
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