ONGC once penetrates 243-244 mark- Likely it will travel in the zone of 252-254 -Hitting the box the resistance from the top end channel. Once it hits the box & we see it is unable to penetrate on upside & facing resistance- we shall look for selling opportunities in later sessions.
Trading Strategy- Likely going above 243-244 -ONGC could head for upside immediately.
Trade closed: target reached:
10:35 Hrs-IST-8th Sep2016- ONGC -Target Reached - Box Hit & Made session firstname.lastname@example.org
12:15 Hrs- IST-9th Sep2016- We shall wait for market clues before it starts falling in the down leg as expected & channel should hold on top or at least ONGC should get rejected in the current zone of 250-255.
No issues - Markets are God -they are immortal as said earlier - Its we who are not immortal so we should always think of lucrative opportunities & always wait for the green signal as accidents are bound to happen with the slightest mistake of thinking that red signal shall turn into green & I shall be able to cross safely- which never happens- because you ignored basic rules-so, you have to pay a hefty price. Paying hefty price also is no issue - if you can afford, but what happens is this game ends sometimes giving your life shock & there is no time left to repent of the same.
We cannot trade every time- sometimes we really have to wait for right place & right time- as author "Edwards & Magee States that Markets trend only 30% of the time" so you should wait for the perfect opportunity to hammer the nail- once you get it-you shall jump out of joy from your seat -yelling from the bottom of your throat- I got it-I got it.