InsiderB

SBI : How we can play this...

NSE:SBIN   STATE BK OF INDIA
We already had failed setup on SBI , during RBI day though we caught the direction of breakout right, markets later moved up clearing our stops & eventually went far more than our targets. This happens all the time, but what we feel is SBI doing it for you alone, No it isn't so.

Right now, we are having triangle formation,

i) As 282's zone retest expected, we can expect upside breakout in triangle but being aggressive checking stops : your area.

ii) Once we get Bearish Reversal around our 282's zone, We can have shorts again in SBI

iii ) The dotted line downside breakout for target of 266's is least possible in My expectations.

But on the whole if we get a move up to 282's then reversal to 266's will be a filler for our coffers.
Comment: Solid winner in SBI ? Let's wait... Anyway Good Breakout...
Comment: Targets done, Now aggressive trail on stops.
Comment: Look for channel breaks on lower timeframe & after confirmation on your end, take shorts if its in your plan.

I didn't check lower tf, just updating here for you :)
Crystal clear
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InsiderB mdhaamu
@mdhaamu, Thank you
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Well explained and simple trade but hard to identify for me ;)

Is there any steps you follow
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InsiderB raoadnan84
@raoadnan84, Thank you, the trend is down and there is formation of triangle - Only two possibility Up or Down. Upside means, we have resistance, Downside continuation of trend. That's the logic behind this trade :)
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raoadnan84 InsiderB
@InsiderB, your analysis on 1HR normally right because your trade life around 1 day to 3 days so we use lower TF
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InsiderB raoadnan84
@raoadnan84, thank you, "so we use lower tf ? "
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raoadnan84 InsiderB
@InsiderB, Want to say like if we trade short time 1day to 3day should we use or you recommend 1HR TF maximum for analysis. i can be 4 hr 1day also but analysis or decision based on 1 HR. is it right to do?
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SBIN reached resistance zone.
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InsiderB santhu404
@santhu404, yes it is, now radar on for shorts
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now what u say long or short ?
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