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 540
Trade closed manually:
Stocks is not moving.
Exited at 548
Exited at 548
