Summary
l HTF trend is turning BEARISH/SIDEWAYS and there is an "Wide range candle" in DTF which means this zone has confirmed good support. However, we will see sideways for short term before it makes new high. So, probability of "CONSOLIDTAION" is high.
l Pivot analysis infers SIDEWAYS bias as well. So, expect TRADING RANGE day.
VERDICT
l Market looks Sideways and any weakness is an opportunity to buy.
l 15630/650 will be key levels to watch for BUYING and support at 15850/15870.
l Fade the edges and book quick profits, since its "trading range day".
**********************************************************************************
Step 1 - Strategies to be deployed -
l Open drive rejection
l PPT.
l Evening star.
l RCR
l CPRRVL
Step 2 - Trading Plan
1. Any bullish PA above 15630 is a long with stop of 15601 and target of 15700.
2. Any bullish PA above 15670 is long with stop of 15636 and target of 15709.
3. Any bearish PA below 15840 is a short with stop of 15870 and target of 15796.
4. Any bearish PA below 15785 is a short with stop of 15815 and target of 15730.
This information is for education purpose only. So, please consult your financial advisor for any investment/trading advise.
Have a nice day!!
@Mockingbanana
l HTF trend is turning BEARISH/SIDEWAYS and there is an "Wide range candle" in DTF which means this zone has confirmed good support. However, we will see sideways for short term before it makes new high. So, probability of "CONSOLIDTAION" is high.
l Pivot analysis infers SIDEWAYS bias as well. So, expect TRADING RANGE day.
VERDICT
l Market looks Sideways and any weakness is an opportunity to buy.
l 15630/650 will be key levels to watch for BUYING and support at 15850/15870.
l Fade the edges and book quick profits, since its "trading range day".
**********************************************************************************
Step 1 - Strategies to be deployed -
l Open drive rejection
l PPT.
l Evening star.
l RCR
l CPRRVL
Step 2 - Trading Plan
1. Any bullish PA above 15630 is a long with stop of 15601 and target of 15700.
2. Any bullish PA above 15670 is long with stop of 15636 and target of 15709.
3. Any bearish PA below 15840 is a short with stop of 15870 and target of 15796.
4. Any bearish PA below 15785 is a short with stop of 15815 and target of 15730.
This information is for education purpose only. So, please consult your financial advisor for any investment/trading advise.
Have a nice day!!
@Mockingbanana
Comment:
Plan 3 done - Target close at 15807 instead of 15796
Trade closed: target reached:
Plan 3 done again . Closed at 15782. Cheers.