Buy the breakout.Looking good for short term reversal rally.
Buy on the breakout and watchout for reaction around 280 levels.
All the best!
IGL trade ideas
IGL Short TradeShort if it breaks the low of the previous day with a stop loss at the previous day's high.
In case of gap up above the previous day's high or gap down below the previous day's low, please avoid buying it or selling it respectively. Follow the ending of the candle formed in first 5 minutes and follow ORB strategy.
How to understand its a correction or Reversal Using tools Funny People , crazy people , simply follow some theory which do not work , I see a simple use of Pitchfork is understand the deviation form its peak difference but one person seems using it like a trend line , You can view his charts , he always uses it wrong and post charts which eventually fail to move or make to forecast
Here you can learn step by step read this message and check the chart
01) Main Trend form Monthly its down ward
02) It has made and strong pull back at 1st place and then failed to hold and continued down ward by giving and L type leg
03) I have market 1st peak down( 28 June 2018) where the MACD showed the divergence for up side and it went up very strong looks like impulse
04) When it broke its point of impulse low and continued we understood its an push up before continuation of the trend , Now again its pushing up (8 Oct 2018)
05) This time its pushing weak price action , and there is no Momentum strength to say its going to reverse now , its deep down ward
06) It made move up and came down but it made Higher High , Giving us an Divergence up side in the Momentum , but there is problem , the problem is the Price range is too low to consider its moving up side as impulse so we identified it as Corrective structure for one more move down , and we are trading based on our trading principal
I hope you will understand how to identify on real time and take proper decision
Another part is Using of Pitchfork , its designed to identify the price deviation form its peak angle , it was believed its an alternate tool form BB without volume calculations in it
Hope you Guys have understood and take better trade in case find any such difference in the Momentum and use the Pitchfork correctly
Good Luck
Neutral stand , No trading This one is in Fish Market , crawling up very narrow range and it might brake down but its not a Good trade to take any interim structure , one can wait for it to make double top and reverse for short selling in Futures
IGL - Inside Bar Trade IdeaLong above 276.3 with SL 271.8
T1 277.75
T2 279.6
T3 281.8
T4 284.9
Short below 271.8 with SL 276.3
T1 270.35
T2 268.9
T3 267.4
T4 265.55
