The price Chart clearly says a lot itself. The price action is something that always works. This is a classical example of how a VERY simple analysis is enough in the market to become profitable.
This time again it has given an opportunity and made a BULLISH PIN BAR at the support of this range which shows price is reacting to this level and that there is DEMAND or BUYERS available at the Support.
ENTRY can be made either at the same place(445) for aggressive trading or when it will cross this candle's high with next week candle.
Stop Loss - if give a Closing below same Candle or whenever it close below trendline.
Reward/Target - Around last swing i.e 535-550 or at when it touches resistance line.
**Position Sizing needs to be very accurate, it keeps trading psychology under control.
(Position Sizing ideally should be calculated keeping in mind the Stop loss. Suppose You are ready to loose 2000 rupees on one trade and the SL is 20 rupees then ideal Position Sizing would be 100 Shares. )
This time again it has given an opportunity and made a BULLISH PIN BAR at the support of this range which shows price is reacting to this level and that there is DEMAND or BUYERS available at the Support.
ENTRY can be made either at the same place(445) for aggressive trading or when it will cross this candle's high with next week candle.
Stop Loss - if give a Closing below same Candle or whenever it close below trendline.
Reward/Target - Around last swing i.e 535-550 or at when it touches resistance line.
**Position Sizing needs to be very accurate, it keeps trading psychology under control.
(Position Sizing ideally should be calculated keeping in mind the Stop loss. Suppose You are ready to loose 2000 rupees on one trade and the SL is 20 rupees then ideal Position Sizing would be 100 Shares. )