I have observed very good price action setup in IEX..
Very high RR setup
Logic behind price action as below.
We can see large volume green candle at resistance level.. After that you can see 2 higher volume red candles which tried to push price downward very hard but ultimately price could not break low and steadily volume and price stables in range.. You can see last doji candle which is having above avg volume and respected trendline very well. And this will triggers good entry for me..
Follow Entry at or above given lvl and respect SL..
RR - 1:8+
Note - Above analysis is for learning purpose only..
Very high RR setup
Logic behind price action as below.
We can see large volume green candle at resistance level.. After that you can see 2 higher volume red candles which tried to push price downward very hard but ultimately price could not break low and steadily volume and price stables in range.. You can see last doji candle which is having above avg volume and respected trendline very well. And this will triggers good entry for me..
Follow Entry at or above given lvl and respect SL..
RR - 1:8+
Note - Above analysis is for learning purpose only..
Comment:
SL hit. I will update if new opportunity creates in stock.. Still Stock look very good but we have to be disciplined..