Ublshort
Simple Trade Setup | UBL | 13-09-2021NSE:UBL
Observations:
1) On 15min time frame, It has made a big bullish candle on 2nd Sep. High of that candle was 1608.25 and low of that candle was 1564.20.
Since-then it has been trading sideways in this range and not able to give sustainable breakout on either of side.
Please refer below chart : 15 time frame.
2)On 1hr Time Frame: Previously it has made the breakout of W pattern and made very bullish move after the breakout.
Please refer below chart : 1hr time frame.
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Trade Setup for Date 13-09-2021:
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.
Please refer below chart for levels.
4) Better to avoid trading in the 1563-1608 range if you are new trader. But one can do scalp between this levels with blue marked levels.
Hope I made it easy to understand it.
Do comment your doubt or suggestion.
UBL for 27.05.2021was consolidating in narrow area , may give breakout either side.
1. Ubl looking strong above 1312, you can have a long position above it , with a stoploss of 1303.
2.Upside targets will be 1323 and 1333 consequently.
3. looking weak below 1294, for the targets of 1281 and 1271, maintain stoploss at 1303.
4.Idea will remain invalid if it opens big gap up or big gap down.
UBL perfect for Short-SellSatisfying multiple checks :
1. Oversold zone
2. Support turned resistance zone
3. Parallel Channel upper resistance
4. High wicks on upper side than lower
Comment if you have any other doubts. Thanks !! Personal entry is taken...
Can contact me at +91-9789598340 (whats-app)
ubl fake break out NSE:UBL
as per my experience the above break out from resistance zone which now turn into support zone after break out, thus is fake break out as per my experience.
UBL : Swing short - Early entry using DivergenceD has a couple of NRCs at W RT.
75m has 2NRD with RSI with trigger and a recent NRC in formation
15m has NCC after a pullup with can give a nice swing move down.
