IOC - Symmetrical Traingle pattern broke on counter side.
Symmetrical traingle has been in formation for some months . But it failed to breakout upside. Instead it brokedown and it has a bear closing on today's daily candle.
Cmp is around 378.
1st setup : Short trade ( Intraday )
Depending on tmr's opening, trade can initiated at two levels.
a - 382 to 384 level on retracement.
b - Below 378 on bearish candle confirmation.
SL - 386 for both.
T1 - 367
T2 - 365
2nd setup : Long trade ( Positional )
If the price reaches 365 level and gets support , then entry can be made based on bullish candle at the said level.
Else wait for the prices to give a clear make or break signal and proceed further.
My own personal view and is purely for education.
Thanks.
Cmp is around 378.
1st setup : Short trade ( Intraday )
Depending on tmr's opening, trade can initiated at two levels.
a - 382 to 384 level on retracement.
b - Below 378 on bearish candle confirmation.
SL - 386 for both.
T1 - 367
T2 - 365
2nd setup : Long trade ( Positional )
If the price reaches 365 level and gets support , then entry can be made based on bullish candle at the said level.
Else wait for the prices to give a clear make or break signal and proceed further.
My own personal view and is purely for education.
Thanks.
Trade active
Comment:
Trailed SL to 383
Trade closed manually:
Didnt work for intraday. Closed @ 381