Titan: Shorting Opportunity

Plan on the chart.
Sell below the trigger for mentioned targets with stop above 917.

Comment: Once triggered, targets can be achieved in one to three days.
Comment: Target 1 hit in the morning
Revise SL for partial positions if any above 904.35
Comment: Trail stop above 902. Market choppy. Can't help.
Comment: It's ok to hold the partial short with stop above 902.
If shorts are fully covered by EOD one may consider to resume the game below 895.50
with same stop for 890.50 and 885.50
Comment: Congratulations, target 2 hit as per plan.
Comment: For any remaining position stop would b abv 899
Comment: Just short of 0.50p from our target and it's dancing. One may close position abv 889.60 and still b in profit. Or
Hold with SL abv 896.20 for the target 885.50.
Thanks for support.
Is the trigger is based on closing ?
Bravetotrade sachin1337
@sachin1337, It's a low vol. stock so if a move is to come it comes fast. Trigger can be taken based on my breakout concepts published earlier.
sachin1337 Bravetotrade
@Bravetotrade, Yeah, missed the volume indicator. Sorry to bother you but i have some doubts. I just wanted to confirm that after the retest also, it should have high volume or just at the first breakout. Also what do you think is the cutoff volume. I am using 10 day volume average and at the first breakout, its greater than that. Generally, according to the concepts you published, I should take position at closing or if during trading hours it is triggered, I can take it?
Bravetotrade sachin1337
@sachin1337, The volume concept u just mentioned is an ideal situation but it may or may not occur in some situations. It is up to the trader if he wants to take those positions, in which volume is not ideal, our not.
To ur second question,
It depends on the time frame u r using. What may be the closing on one tf may not be on the other higher tf. So it's better stick to one tf for a trade and take decision based on that.
In this trade I mentioned the trigger, which meant limit order 2 ticks below that. Once price breaches the trigger the trade is active.
Hope it's clear.
sachin1337 Bravetotrade
@Bravetotrade, thanks for explanation. It is mostly clear. I generally trade at closing and use 1 day candles. I don't consider the break if it does not break on close. I am new and learning. Wanted to know the different methods and psychology behind triggering during trade hours or close. But I guess, one could take his decisions based on the market/ stock movement. Correct me if I am wrong. Though, I am going to stick with the closing for some time.
Bravetotrade sachin1337
@sachin1337, Right. All the best.
RR is pretty bad 2:1
Bravetotrade Parasuram
@Parasuram, I know but I didn't want to go for too deep targets in this choppy mkt. As u can see first target is hit and the stock reversed sharply after that.
Bravetotrade Bravetotrade
@Bravetotrade, this is no swing trade.
+1 Reply
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