imdbeststocktrader

PETRONET- Short- Hourly

Short
BSE:PETRONET   PETRONET LNG LTD
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6
1. There is a resistance zone (daily).

2. In past Price has reversed from this zone.

3. Price has not yet broken this zone and there are around 7 candels at the same price There is a high possiblity of price reaching to Target at 338.42. Price may go down futher however it will be safe to close the trade at 338.42

4.There is good risk reward ratio. There will be always be good risk reward ratios that I'll share.

5.Short is the call

6. Idea is published for education purposes only. Please feel free to ask questions, give constructive feedback and your views. Please hit on like, it's an incentive to me and motiviates me to share more setups.
Trade closed: stop reached: Trade did not turn out as expected. Price went down in the direction that I had analysed. However then there was a bullish candle and S/L was hit. Price is expected to move in the predicted direction.