Tatachem - Mostly a short opportunity

Tatachem - Short below 305.4 ONLY closing basis

Will await a closing / engulfing candle for entry - till then waiting for trade opportunity.

SL: 1.2 Points
TGT: 4+ points - will update if traded

Comment:

Hold ON - NOT to trade yet. Still its bullish.

Comment:

308-310 will be a resistance zone, awaiting if it closes above or if it fails to close above for a short entry

Comment:

308.65-310.35 to be precise with the resistance zones - Am expecting a reversal here.
OR if closing 310.35 then a good upmove. WIll wait

Comment:

I am still not on trade

Comment:

Showing resistance now - unable to close above 310.35 (Still the last candle close is 310.30 only).
However its still no bearish signs to enter short - SO WAIT for opportunity.. :)

Trade active:

Shorted 1 lot @ 308.4
SL later ll
update

Comment:

SL: 311

TGT: 305 // 302-303

Comment:

Strict SL of 311.05

Comment:

Closing 310.35 -I will go for LONG and exit short
Might not be able to update as the move may be fast.

As of now still holding my short position for a minimal SL

Comment:

308.65-310.35 THIS zone is being respected for quite some time.
Close above or below the zone will make the price move heavily to that side.

Comment:

Reverse trade, exited short @ candle closing above 310.35 and bought 1 lot fut @ 310.5 and exited @ 314.5.. Quick 4 points, making up the loss and ending in profit.. :).

Net ended up with 2 points profit.. thats a good money in fut. Infact in fut when I squared off I got 2.3 points profit (lot size 2000).

Trade closed manually:

Manually exited @ 2 points net profit