Siemens Short Term setup
Updated
Stop loss should be compulsory and according to your risk appetite and trading system.
Targets for me are 1300, 1357, 1425. I will close all the positions at 1425
Always have a reason as to why to go long or short (This post is my reason why I want to go long in Siemens, for you it could something like RSI is below 30 and now has crossed above 30, which is a bullish sign), then use your risk management to decide the stop loss level. Look at the upcoming resistance and support levels and decide target accordingly. This is how you should take a trade. Once all this is taken care of, use your trading method, which could be breakout trading, pullback trading, or any other method, to enter the trade. All this is what a trading system is and sometimes loss may incur, but if you continue trading with proper trading system, in the long run you will be profitable!
I am not a SEBI registered investment advisor and hence do not follow my analysis blindly.
Be aware of what you are trading and the risk associated with it.
Stock market is risky and you can lose a lot of your capital.
Be wise and trade carefully!
Grateful!🙏
Targets for me are 1300, 1357, 1425. I will close all the positions at 1425
Always have a reason as to why to go long or short (This post is my reason why I want to go long in Siemens, for you it could something like RSI is below 30 and now has crossed above 30, which is a bullish sign), then use your risk management to decide the stop loss level. Look at the upcoming resistance and support levels and decide target accordingly. This is how you should take a trade. Once all this is taken care of, use your trading method, which could be breakout trading, pullback trading, or any other method, to enter the trade. All this is what a trading system is and sometimes loss may incur, but if you continue trading with proper trading system, in the long run you will be profitable!
I am not a SEBI registered investment advisor and hence do not follow my analysis blindly.
Be aware of what you are trading and the risk associated with it.
Stock market is risky and you can lose a lot of your capital.
Be wise and trade carefully!
Grateful!🙏
Note
I will enter with half quantity when there is a breakout inside the range and will buy the entire quantity when the price is broken out of range with proper volumes, that is a breakout above 1265 will be my trigger to go long with my usual quantity.Note
Price is currently in a lower high lower low structure, which needs to be broken before Siemens can turn bullish. Strong upthrust candles will be my confirmation to go long
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