1.One Can Go long with a Strict SL below the Trendline or Swing Low of Daily Candle.
2. Close, should be good and Clean.
3. R:R ratio should be 1 :2 minimum
4. Plan as per your RISK appetite
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#JINDALSTEL (4HR):-CMP 397.3 Looks Good below 400, for 370 :)
#Disclaimer:-View shared is for educational purposes only. Conduct your due diligence before making any trading or investment decisions.
Jindal steel and power looks good on daily chart by the closing basis break horizontal resistance trend line and closed above on that, some days back it breaks 200 days moving average and came down with very steel fall after so many days it managed to give a close above on it's 200 days moving average so the conclusion is this that we can see a sharp rally in this...
Enter the trade at the opening.
Stoploss at the low of the signal candle for aggressive traders.
Stoploss below the 20ema for positional traders.
Trailing stoploss after a 5% move.
Bollinger Band is squeezed and the breakout of the upper band.
Rsi is above 60.
Macd bullish crossover
For educational purpose only.
Jindalsteel Long ( 05 Aug)
breakout of 50 day EMA resistance, now becomes strong support
Buy at- 393
Target- 436, 470
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