SL: 185.8 (1.3 point)
That will be more than a 1:1 risk reward
Exit: 181.1 (3.4 Points=4250 Rs per lot)
SL was 1.3 Points and Tgt 3.4 Points - that's almost a 1:2.5 Risk reward
Finished for the day - only ONE trade for the day
Good night pals.
Sure bro- there's nothing big about the trade.
Its simple price action based trade - always keep in mind that anywhere if there's a volume burst then that same level will be retested again - so if you take a trade using limit order during the retest you can always keep minimal SL. Use a 15 min chart for finding volume burst- and enter using a 5 min chart. SL will be the previous swing high/ low (depending if it short or long)
However sometimes that retest can also be a change in direction of the market sentiment - this happened recently with NIFTY (last week where SL also hit and then I took a reverse trade and market went highly upside hitting my tgt which not only covered my loss but also gave a handsome profit)- So need to be really fast sometimes.
Its difficult to write and make anyone understand - but I hope you got a vague idea - its merely based on volume based moves (along with some major candlestick patterns).
I will try making a video of this and all the trades taken this month - hope it might be clear.
Making video - better way to enlighten us in this part and would be really appreciated.
Thanks for disclosing, bruh!