IGL trade ideas
POWER OF MAJOR + HORIZONTAL SUPPORT !IGL is near its very important major support trend line. Also it is on its horizontal support line. The combination of these two supports can acts as very crucial support.
Enter on break of minor trend line that is drawn. This is very goog R:R trade.
This analysis was done by me only for understanding work of trend line. Use this only for education.
Feel free to share your views/feedbacks.
Igl show weekness shartMy view on Igl chart
Igl start correction 14 sep 2021 and first lag complete 29 oct 2021 type of part 5 wave
igl start second lag 30 oct 2021 second lag complete 15 dec 2021
c wave start 16 dec 2021 c wave 5 lag hona chaiya
Note -
One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells at "where" to act in "what direction. Unless it triggers, like, let's say the candle doesn't break the level which says "Buy if it breaks", You should not buy at all.
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I use short hands for my trades.
"Positional" - means You can carry these positions and I do not see sharp volatility ahead. (I tally upcoming events and many small kinds of stuff to my own tiny capacity.)
"Intraday" -means You must close this position at any cost by the end of the day.
"Theta" , "Bounce" , "3BB" or "Entropy" - My own systems.
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I won't personally follow any rules. If I "think" (It is never gut feel. It is always some reason.) the trade is wrong, I may take reverse trade. I may carry forward an intraday position. What is meant here - You shouldn't follow me because I may miss updating. You should follow the system I share.
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Like -
Always follow a stop loss.
In the case of Intraday trades, it is mostly the "Day's High".
In the case of Positional trades, it is mostly the previous swings.
I do not use Stop Loss most of the time. But I manage my risk with options as I do most of the trades using derivatives.
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IGLWait And Watch ??
Look for Low risk, High reward, and High Probability setups-
Things to Remember while Trading with the Trend
1. Know what the trend is.
2. The best trades are made in the direction of the trend.
3. Assume that the main trendline or moving average will hold.
4. The longer the moving average is, the better it defines the trend.
5. Wait for the pullback.
6. Don’t chase the market.
7. Don’t fight the market.
8. Even in the strongest trends there should be some retracement.
9. The closer the market is to the trendline, the better the risk/reward ratio is.
10. Use ADX to determine the strength of the trend.
11. Higher the level of ADX , the stronger the trend, below 20 consider the market to be choppy
12. Hold trades longer in a strong trend.
13. Wait for confirmation of a trendline breaking before reversing position.
14. Know where the Support levels are.
15. Place stops outside the Support levels.
Thank You..
IGL | 515 | 540 | INTRADAY+SWING WEEKLY TRADE 8%+NSE:IGL
Trade Logic | PULLBACK BUY LOW RISK TRADE. OR BUY BREAKOUTS. CONFIRMED.
Entry 502
Stop 470 -6% INTRA LEVELS ON CHAT
Target 1 512 | 540 +8%
RR 1.2+ 2nd Target
Details on chart as always
1 free trade idea daily.
Trade Size 2% Max
Max Trades 20/ Month
Time Frame 1 DAY 1 WEEK
Diversify Bet Small Lose less. | Our Motto.
#TRADEWORLD | #MARKET_MAGIC
TEST FIRST / TRADE LATER