Hello everyone,
I would like to share with you a trading pattern that I have observed in the Nifty index. It is a short pattern (Head and Shoulder) which will be activated if Nifty breaks down below 17590 with a 30-minute candle closing. In this case, I plan to take some short positions in Nifty, while also implementing proper risk management strategies.
My entry point for this trade would be around 17590, but it's important to note that the entry must be on a retest only. Our target for this trade will be 17363, which is approximately 227 points below our entry point.
To manage our risk, we will use a stop loss at the recent swing high, which I will update while entering the trade. Since this is a swing trade on a 1-hour timeframe, it may take some time to reach our target. Additionally, there is overnight fear involved, so it is crucial to always hedge our positions while carrying them overnight.
Thank you for reading, and please feel free to follow me and share your opinion in the comment section. Have a happy journey!
I would like to share with you a trading pattern that I have observed in the Nifty index. It is a short pattern (Head and Shoulder) which will be activated if Nifty breaks down below 17590 with a 30-minute candle closing. In this case, I plan to take some short positions in Nifty, while also implementing proper risk management strategies.
My entry point for this trade would be around 17590, but it's important to note that the entry must be on a retest only. Our target for this trade will be 17363, which is approximately 227 points below our entry point.
To manage our risk, we will use a stop loss at the recent swing high, which I will update while entering the trade. Since this is a swing trade on a 1-hour timeframe, it may take some time to reach our target. Additionally, there is overnight fear involved, so it is crucial to always hedge our positions while carrying them overnight.
Thank you for reading, and please feel free to follow me and share your opinion in the comment section. Have a happy journey!
Comment:
letting market consolidate near 17600 for some time .
Comment:
let a 15 minutes candel closes below 17590
Comment:
short created @17590.
Comment:
plz do your analysis before taking any trade.