Daily structure.
Narrow range & inside bars with lower volumes.
Simple consolidation & breakout in first 15 min itself.
Identified around 9.30 AM to 9.45 AM.
First mistake is entry away form moving average at 3077
Ideal is to enter near moving averages to get good risk reward & chances of stop loss triggering are less.
First target was around 3150 to 3160.
Looking at the momentum and breakout decided to trial stop loss once it clears the 3150-3160 cluster.
Second target around 3200 achieved.
So decided to trail stop loss to first target & this was the second mistake that kicked me out of the trade.
Then there after gave the next target near to end of the day.
Here's the screenshot of entry and exit.
drive.google.co...UMat5ViJWz/view?usp=drives...
No one knows how many targets will be achieved in a day. Based on circumstances you need to decide the whether to exit or trail.
Here the momentum was very much strong as indicated by volumes. Stock was hovering near all time high also.
Hope you learn from my mistakes!
Narrow range & inside bars with lower volumes.
Simple consolidation & breakout in first 15 min itself.
Identified around 9.30 AM to 9.45 AM.
First mistake is entry away form moving average at 3077
Ideal is to enter near moving averages to get good risk reward & chances of stop loss triggering are less.
First target was around 3150 to 3160.
Looking at the momentum and breakout decided to trial stop loss once it clears the 3150-3160 cluster.
Second target around 3200 achieved.
So decided to trail stop loss to first target & this was the second mistake that kicked me out of the trade.
Then there after gave the next target near to end of the day.
Here's the screenshot of entry and exit.
drive.google.co...UMat5ViJWz/view?usp=drives...
No one knows how many targets will be achieved in a day. Based on circumstances you need to decide the whether to exit or trail.
Here the momentum was very much strong as indicated by volumes. Stock was hovering near all time high also.
Hope you learn from my mistakes!