A straightforward pattern, not much to explain here. One important thing to take into consideration is that the markets may correct which might cause the breakout to fail for a while so it is always a good idea to keep a deeper stop-loss if the overall market direction is going to be down in the near future. Waiting for a close above 756 levels warrants an entry. Trade at your own risk.
*This is strictly educational material. The reason for posting live trade is to put my money where my mouth is. Do not solely copy my trades you will make a loss. I shall not be held responsible for the same.*
*This is strictly educational material. The reason for posting live trade is to put my money where my mouth is. Do not solely copy my trades you will make a loss. I shall not be held responsible for the same.*
Trade active:
Entry at 763. I like preemptive entries and don't wait for close. It has its pros and cons. Beginners should always wait for close.
Trade active:
Case of stop loss probing. I already mentioned how markets are going to fall so I have not exited the trade. However if the markets break the new low (675), that would warrant an exit. An excellent opportunity to add at 707 levels.
Trade closed: stop reached