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OIL AND NATURAL GAS CORP.OIL AND NATURAL GAS CORP.OIL AND NATURAL GAS CORP.

OIL AND NATURAL GAS CORP.

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ONGC trade ideas

ONGC { 30 M short }IB Formed & DOJI in formation ( Nested IB May form ) , Short if break . Rest is as per chart Note :- Entry - At the break of mentioned candle's low/high Stop Loss - In a Short Trade, I always use Previous Candle High ( PCH ) as a stop loss while entering the trade. Sometime I might use 15 M tf SL & trade in 30M tf which I'll mention. Vice Versa for long trades Trailing Stop Loss ( TSL ) - Mostly I trail stop loss by PCH as price falls . I exit as PCH breaks & vice versa Use of PSAR as TSL :- TSL get's hit in trend following due to noise, In such cases I use PSAR to be in trend & exit if PSAR direction change You can use any one of above mentioned or your own way to manage risk Time Frame :- I take ~ 90% of my intraday trades in 15m tf. Where my analysis might come from higher frames like W , D or 1hr chart pattern which will be mentioned. Target :- I do set target line based on support / resistance slightly above/ below it . Please pay attention to it
NSE:ONGCShort
by ShivamMendhare