Belanalysis
Keep an eye on #BELUSDT as it approaches key levels.🚀💎 Paradisers, for #BEL, we may anticipate a bounce from the supportive trendline, especially as the price has shown a Change of Character (CHoCH) towards a bullish market structure, which enhances the likelihood of a bullish move.
💎 If #BELUSDT finds support at the supportive trendline and bullish Order Block (OB), and demonstrates CHoCH and Break of Structure (BOS) on lower timeframes, then a rebound is expected.
💎 However, if there's a breakdown of the bullish OB and supportive trendline, a bearish trend might unfold, but I would prefer to disregard any short-term bearish movements for now.
Simple Trade Setup | BEL | 23-05-2022 [INTRADAY]NSE:BEL
Observations:
1) On 1day Time Frame, if we apply Fib from recent low up trend move then we can see that it is near 38.20% Fib Retracement range.
Breakout of this level of 238.15-238.35 will be buy trade opportunity for quick target of 240.
But still safe buy trade will be on breakout 240 level for positional trader.
Please refer below chart : 1day time frame.
2) On 15min Time frame, we can see kind of cup and handle pattern
Please refer below chart : 15min time frame.
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Trade Setup for 23-05-2022
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.
4) Avoid gap up or gap down chase. Wait and trade between levels.
Please refer below chart for levels.
Hope I made it easy to understand it.
Do comment your doubt or suggestion.
Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action works near that level.
Simple Trade Setup | BEL | 28-02-2022 [INTRADAY]NSE:BEL
Observations:
1) On 1day time frame, it is sustaining above 200DMA and take support from it in friday session. 200DMA is major support at this moment. it is again back in big range.
200DMA is placed at 191 level range.
Please refer below chart : 1day Time Frame.
2) On 1hr time frame, we can see a descending parallel channel.
Please refer below chart : 1 hr Time Frame.
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Trade Setup for 28-02-2022
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.
4) Avoid gap up or gap down chase. Wait and trade between levels.
Please refer below chart for levels.
Hope I made it easy to understand it.
Do comment your doubt or suggestion.
Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action works near that level.
BEL given blasting 15% Return after my analysis ## Just a trade review nothing else provided the amazing analysis on BEL some weeks back, trading levels were intact, a good trader with a good setup and risk manager would have made some bucks in it for sure :), well if you liked it make sure to follow me for some motivation, so that I search more of what I am capable of doing and provide u potential good stocks + your personal setup on it = cherry on the cake :)
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