PFC - At Strong Support Zone (Risk to Reward Favorable)
Updated
It is been observed on the hourly chart, that the price action is holding on to a strong support zone indicating a strong buying at current levels that can up lift the price action in coming session.
It is providing a good risk to reward entrance at current levels too.
Target - 132. 50 (1:2)
Target 2: 135 (1:3)
Target 3: 137.50 (1:4)
Stoploss: 125
It is providing a good risk to reward entrance at current levels too.
Target - 132. 50 (1:2)
Target 2: 135 (1:3)
Target 3: 137.50 (1:4)
Stoploss: 125
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Note
Trades who have doubt about stoploss here it is that I believe in and works for me. As I said before in my previous trading post regarding stoploss, when you're trading you need not to take stoploss as a number but a psychology behind the buyers and sellers. Stoploss of 125 below means that sellers will be aggressive and price will further go down. Stoploss is successful if you have a closes below it on hourly chart or daily which provides you confirmation that the movement towards or below the stoploss is strong and then it is wise to exit a trade. Kindly avoid looking at stoploss with number as in market there is algo trading going on which picks up orders near the current price in secs which makes the most fluctuation in stock without any reason. I'm still in trade until I see a close below SL on hourly or daily chart.
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