This is an interesting study of #IOC chart on 1-hour basis:
- Period : MAY 2020 (12 trading days) - Observe behaviour of candles in GREY and YELLOW - On any GREY candle - the high point of one-hour remains higher for the entire day - So an intraday SELL strategy can be initiated for a gain of maximum average of 2-3 points daily
- For protection a small SL can be placed upon higher level of 1st candle - SL to be based on one's own capital (it can be 0.25 or 0.50)
- If you see YELLOW candle, this is the only day when TREND reversed - But there is a SUCCESS on all other 11-days
Jai Hind!!
Trade closed manually
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- Entire sector is in the limelight after a news on BPCL - Last week's higher highs pattern along with breakout led to a change in the trend. - So positional trade can be on review
Some trollers track you surreptitiously and do not have a courage to share their opinion at first go.... BUT when the entire sector turns the tide n breakout comes, they initiate the trolling. Perfect example here...
One should know how to pounce on OR retrace from a trade even if its not a breakout.
Trading is always a game of probability and maximum wins.
Learn together - Grow together - trade safely & please STAY INDOORS!