Simple Trade Setup | SIEMENS | 18-11-2021 [ INTRADAY]NSE:SIEMENS
Observations:
1) On 1day time frame, it closed below 10DMA.
10DMA is placed at 2362.46.
Immdiate resistance level will be 2360-2365 level range.
Also Immediate support range is 2300-2320 level range.
Immediate breakout level is 2400 level.
Please refer below chart : 1 day Time Frame.
2) On 1hr time frame, If had made rounding bottom pattern. But couldn't give breakout of 2400 level.
But it is sustaining above 2300 level range.
Please refer below chart : 1 hr Time Frame.
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Trade Setup for Date: 18-11-2021
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.
