Rising wedge breakout trade with Risk to Reward of 3
Daily: NR7 + IB candle pattern
Hourly: Rising Wedge Broke down after getting rejected at resistance
Strategy: Short on break of 439.7
Risk to Reward: 1.5 to 3
SL: 455.5
Target 1: 415.65 - 402.6
Target 2: 394.65 - 365
Hourly: Rising Wedge Broke down after getting rejected at resistance
Strategy: Short on break of 439.7
Risk to Reward: 1.5 to 3
SL: 455.5
Target 1: 415.65 - 402.6
Target 2: 394.65 - 365
Order cancelled
Currently sellers got trapped after it broke NR7+IB candle to the downside and it went up. My view has been changed. I think since it is in the process reversal, shorting is not a good idea.
There seems to be buying exist on every dip in this zone. Sorry for the wrong idea :(
Look for buying opportunities while making sure NIFTY is in healthy uptrend.
Also It is better to do scalping until NIFTY trend is clear
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.
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.