Swing trade in UTI AMC - Entry around 538 (Rejection day)
Buy At 538-545 range for an excellent entry.
SL - Exit if stock close below 538, since it will definetely test the low's of the rejection candle.
Reason for the trade: Rejection day
A Rejection Days have a range that is significantly larger than the 10-day average and The ideal swing entry is the Rejection Day midpoint,which can be defended for 1-4 days after the rejection.
Exit when: A daily close below the Rejection Day midpoint breaks the pattern, as this would indicate a retest of the Rejection Day low
SL - Exit if stock close below 538, since it will definetely test the low's of the rejection candle.
Reason for the trade: Rejection day
A Rejection Days have a range that is significantly larger than the 10-day average and The ideal swing entry is the Rejection Day midpoint,which can be defended for 1-4 days after the rejection.
Exit when: A daily close below the Rejection Day midpoint breaks the pattern, as this would indicate a retest of the Rejection Day low
Trade active
Entry at 540Trade closed manually
Stocks is not moving. Exited at 548
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.