NIFTY - BUY SETUP WITH SMALL RISK
Hi,
Please refer chart for details .
As the A leg looks impulsive & price action seems supportive at fib 61.8% retracement level, we can look for a long opportunity with minimal risk,
Target level will be Fib 1 & 1.618 times of leg A against B Point ( previous swing low).
Ideal stop would be below Origin ( i prefer to trade it by keeping stop just below B)
Trade with care,
Gulz
Please refer chart for details .
As the A leg looks impulsive & price action seems supportive at fib 61.8% retracement level, we can look for a long opportunity with minimal risk,
Target level will be Fib 1 & 1.618 times of leg A against B Point ( previous swing low).
Ideal stop would be below Origin ( i prefer to trade it by keeping stop just below B)
Trade with care,
Gulz
Trade closed: stop reached
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