Hello all,
With breakouts happening left, right and center(owing to the bull market) it seems easy to trade and more easy to loose our discipline. We should cherish this bull run but not at the cost of loosing our discipline.
Now coming to the idea, a well known textile brand- Raymond, is trading at the multi year resistance zone. How I look at stocks trading at such strong resistances is that they give a favorable RR. We have small to loose while a lot to gain (just look at the prices it reached once it broke the current resistance zone). The volumes are also favorable.
The idea is not to give you exact levels of entry/exit/stop loss. Observe the stock for a few days, see the price and vol changes. Based on that create a plan for yourself which should include a entry price and a stop loss price. Be in no rush to take a position. Self analysis will take your journey much ahead and will instill confidence in you.
How Can I help you? You can share your trading plan for this stock with me, and we will definitely have a conversation over it and learn from each other:)
Happy Trading!
With breakouts happening left, right and center(owing to the bull market) it seems easy to trade and more easy to loose our discipline. We should cherish this bull run but not at the cost of loosing our discipline.
Now coming to the idea, a well known textile brand- Raymond, is trading at the multi year resistance zone. How I look at stocks trading at such strong resistances is that they give a favorable RR. We have small to loose while a lot to gain (just look at the prices it reached once it broke the current resistance zone). The volumes are also favorable.
The idea is not to give you exact levels of entry/exit/stop loss. Observe the stock for a few days, see the price and vol changes. Based on that create a plan for yourself which should include a entry price and a stop loss price. Be in no rush to take a position. Self analysis will take your journey much ahead and will instill confidence in you.
How Can I help you? You can share your trading plan for this stock with me, and we will definitely have a conversation over it and learn from each other:)
Happy Trading!
