Continuing on the efforts of trying to build a habit of consistently trading on a single strategy.
Indusindbk has formed a range from 20 jan till now of 1428-1571, recent price action forming inverted H&S, should be on radar if breaks out target gonna be 1630/1720.
Not a good day today. Ususally that happens on Mondays... I am not in sync with the market as it remains closed for two days on weekends.
Risky Long, not recommended if you are already not sitting on profits contra bet as RS is negative Weekly consolidation and now prices breaking out on daily SL 1511 tgt1 1625
stock broke out an THF supply now forming a good base at supply a clear up side move might happen. can enter it might give an 1:3 return. not an financial advice just an chart analysis
Tried testing my strategy in excel so that in future this could be automated.
Learning of today: 1. Have patience........... more than 4 hours as long as your SL is not hit. 2. Have faith in your system, do not take short exits, let the market come to you.
Day 6: Had the idea of chasing the trend, however, realised that I am not yet ready for it. The SL was very far off and hence was sceptical of taking the plunge. Upon confirmation candle, did take the stand; and it turned out to be correct, got out at expected target. Learning: 1. Waiting for confirmation definitely helps 2. Do not doubt the system even in an...
Day 5 Experimented with 15 min chart to see if it can help identify the major trend for the day. Untill now I used to look at 1 hr chart to judge on major trend. Looks promising and delivers within the day. Will follow 15 min chart to see if can help me identify the trend correctly, consistently.
Target: 1515, 1528, 1560 SL below 1460 (safer 2% from 1466) Entry on retest of 1466-68 range
Day 4 of trading journal. Lizard brain made me tighten my stop loss and get out.
Recording the thought process and actions taken for analysis and improvement.
Happy learning with trading. I just shared my view. If correct give me one like. If not correct me. Points to Note: 1) bounce from support area an possible to reach immediate resistance. 2) volume also saying the same. Disclaimer: I am not a Registered Analyst with SEBI and it is only for educational purposes. Please consult your financial advisor before making...
Day 2 of journaling my trading to see how I am doing, what is my thought process, recording it so that I can figure out where do I need improvement to trade better, make money consistently.
This is more like recording what I am doing everyday (right or wrong, mostly wrong I think) so that I can come back and see where I need to change, what I need to improve. I am using the Linear Regression for direction and checking extreme ends for entry/exit. I think that LRC is good for intraday trading since you get both the things on the screen. However,...
#Indusindbk cash -Positional call 24.03.2024 Looks good above 1521.10 and dips 1500-1504 Stoploss 1480 Tgt 1560 Sustain above 1560 then 1640++ Cmp 1512
Price is moving within the range of 1420 to 1580 for few months. Now it is in between the range. 1516 - 1524 will decide the trend direction. Buy above 1525 with the stop loss of 1510 for the targets 1540, 1565 and 1580. Sell below 1480 with the stop loss of 1495 for the targets 1465, 1450, 1435 and 1420. Check the live market updates. Hit the like button to...
NSE:INDUSINDBK Strong Support Taken out Noe ( 248 Day's ) Watch Guys we can get some Fall