MAYA_MUMBAI
Short

SHORT SUNTV AT 590 WITH SL OF 600 WITH A TARGET OF 520

NSE:SUNTV   SUN TV NETWORK LTD
688 views
11
688 46
There is confluence of

1) Price action
2) Channel
3) Inverted Hammer

Hope this time Suntv will oblige me !!!
Comment: take risk of 10 to 15 points.....

When you play it too safe, you’re taking the biggest risk of your life.

Time is the only wealth we’re given.
Trade closed: stop reached: SL is hit

So exited with 10 point stop loss

Sorry if you any one is hurt by 10 point stop loss
Comment: just for the sake of update

Trend is down - Hence i was looking for setups to short

I guess this explains the above setup

Actually Resistance is @618-620 level this is the right shorting level...may be 5 point SL
Reply
@pk99133,

Perfect :)
Reply
@sundes707

At present - exited the trade with SL

If any new trade set up comes - i shall publish

Thanks
Reply
before hitting SL it gave 7-9 point gain....................its ok ...its art of trading.
Reply
@pk99133,

Thanks pk for the encouragement !

Hitting SL is also part of trading !

Most of the newbies gets discouraged by it , while i get more enlightened by the same !
+1 Reply
https://twitter.com/trader_wave/status/1100286405207568384
This is called trading , we bought at 578 and booked exactly 615 , its a tweeter link , check it out , I also bought when everyone was selling , if you have knowledge then your action will be in the direction of trend for every trade , if you do not have a knowledge then your action will be random ,
Reply
MAYA_MUMBAI I-Fund-Trader
@I-Fund-Trader,

congrats for your trade

I believe in stop loss and a 10 point stop loss doesnt mean much

This was a good trade set up ,

But however good it is it can still result in stop loss

No one in this world of trading is perfect

Market is king
Reply
I-Fund-Trader MAYA_MUMBAI
@MAYA_MUMBAI, Again You are in wrong assumptions , Market is not King , Nor any one , what exactly needs to be understood is direction of the market ,once when you know the direction all you have to do is set up your buy or sell trading rules and be in it with confirmation of Price action , Not a big deal , its simple and easy ,
Reply
I-Fund-Trader MAYA_MUMBAI
@MAYA_MUMBAI, Other day you posted a link in tweeter for Martin J Pring and Adam Grems PDF book , You better read 1st them , it will help you before commenting on my analysis
Reply
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