Trading_hawk

Simple Trade Setup | UBL | 13-09-2021

NSE:UBL   UNITED BREWERIES L
NSE:UBL

Observations:

1) On 15min time frame, It has made a big bullish candle on 2nd Sep. High of that candle was 1608.25 and low of that candle was 1564.20.
Since-then it has been trading sideways in this range and not able to give sustainable breakout on either of side.

Please refer below chart : 15 time frame.

2)On 1hr Time Frame: Previously it has made the breakout of W pattern and made very bullish move after the breakout.

Please refer below chart : 1hr time frame.

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Trade Setup for Date 13-09-2021:

1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.

2) Everything is mentioned on the chart. I hope it is easy to understand.

3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level.

Please refer below chart for levels.

4) Better to avoid trading in the 1563-1608 range if you are new trader. But one can do scalp between this levels with blue marked levels.


Hope I made it easy to understand it.

Do comment your doubt or suggestion.
Trade closed: target reached: