Simple Trade Setup | SAIL | 16-09-2021

Sep 15, 2021

SAIL

Observations:

1)On Daily Time frame: It has been facing resistance from 21DMA and is not able to close above it. Currently 21DMA is placed at 121.48 level.

Please refer below chart : Daily time frame.


2) On daily time frame: It has been respecting the support zone and keep on taking support from it. Support Zone if from 118.55 to 120 level.

Please refer below chart : Daily time frame.


3) On 1hr time frame it has been trading between 118.60 to 123.75 level since more than 7 days. Breakout of any level will give move on respective side.

Please refer below chart : 1 hr time frame.


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Trade Setup for Date 16-09-2021:

1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.

2) Everything is mentioned on the chart. I hope it is easy to understand.

3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level.

Please refer below chart for levels.


Hope I made it easy to understand it.

Do comment your doubt or suggestion.

Note: Trade with Strict SL.

Sep 17, 2021

Trade closed: target reached