Simple Trade Setup
It is remaining in the range between 305 - 290.
Today, 11-08-2021, it recovered well in 2nd half session.
Hope Chart and levels mentioned are easy to understand.
Safe buy trade will be only above breakout of 300 level. Safe short will be below 295 level.
If it opens gap up between 295-300 then either side of breakout will be an entry for sell or buy trade. But a 15min candle should break this level and next candle should give sign of the following buy or sell in the price action. But if it faces support from 295 then it will be entry for buy trade and if it faces resistance from 300 level then it will be entry for sell trade. In this 295-300 range trade will be quick.
If it opens gap down below 295 and then it went up and breakout 295 level then it will be also an entry for buy trade. But if it faces resistance from 295 then it will be entry for short trade.
If it opens above 300 level then let it go down and take support from 300 level and then it will be buy trade once it takes support from 300 level. And it it breaks the trendline above then it will be also an entry point for buy trade.
Hope I made it easy to understand.
Do comment your doubt or suggestion.
All the best.
Let's see how price action works on Monday