Priceactionstrategy
Intraday trade for 9-4-2021Entry:- If stock close above 1144 before 10 AM on a 15-minute timeframe then only take the trade.
Target:- 1180
Stop Loss:- 1115
Disclaimer:- Trading tips are only for educational purposes. Trading and investment contain risk. Please consult your financial advisor before making any trade or doing an investment. I'll not be responsible for your loss.
Thank you!
Asian Paints Analysis First, 2260 acted as a resistance on 6th Nov'20 and it acted as a support on 26th Feb'21 and moved up from the support.
Second, if I apply the fibo retracement from 1912, you can see that market rejected the 61% fibo level at 2260, so again it touched the support and moved up.
Third, there is a bullish head & shoulder made from 1st Feb'21 to 25th March'21, 2483 being the neckline, 2260 the head, and approximately 2367 are the shoulders.
Now, if market rejects the bulls at 2513, then our next support could possibly be the 50% retracement at 2378.
We can set our sl below the support line, i.e, 2260.
So, trade accordingly.
This was a little analysis made by me for a long position.
Further, rightly said by many, "don't trade what you think, trade what you see on the chart."
Thank You.
Happy Trading.
GBPUSD, formed a triangle towards end of March, 22-26GBP against Dollar pair have moved between 1.40 and 1.38 for almost a month and neither up or low seen beyond this price limits, and expect the same this week also , and it formed a triangle pattern towards end of the month..
Analysis only for education purpose
Axis Intraday analysis Entry : 744.50
Stop Loss : 740
Target : 749 / 753.5
The analysis is based on simple price action only. Entry point given are valid if the resistance / support breaks convincingly. For that learning candlestick psychology is a must one.
Note : Don't jump in to the trade once market reach the entry level, most of the time will get better entry and that gives better reward.
Any doubts, make a comment or text me privately :)