HDFC BANK LTDLong
HDFC Bank Trade Setup on the Daily Chart
📊 HDFC Bank Trade Setup on the Daily Chart 📈
Here's an interesting long trade setup for HDFC Bank:
🔹 Entry : 1771
🔹 Take Profit : 1881
🔹 Stop Loss : 1742
This trade aligns with a confluence of technical factors:
1️⃣ Fibonacci Retracement🟠: Price is bouncing near the 0.5 retracement level, signaling potential support.
2️⃣ EMA 50 🟡: Acting as dynamic support, strengthening the probability of a rebound.
3️⃣ Historical Resistance-Turned-Support 🟢: Price is testing a key zone previously broken.
Risk-to-reward ratio looks favorable for a swing trade. Keep an eye on how price reacts to this critical level.
💬 Share your thoughts in the comments!
Here's an interesting long trade setup for HDFC Bank:
🔹 Entry : 1771
🔹 Take Profit : 1881
🔹 Stop Loss : 1742
This trade aligns with a confluence of technical factors:
1️⃣ Fibonacci Retracement🟠: Price is bouncing near the 0.5 retracement level, signaling potential support.
2️⃣ EMA 50 🟡: Acting as dynamic support, strengthening the probability of a rebound.
3️⃣ Historical Resistance-Turned-Support 🟢: Price is testing a key zone previously broken.
Risk-to-reward ratio looks favorable for a swing trade. Keep an eye on how price reacts to this critical level.
💬 Share your thoughts in the comments!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.