Get ren, but dont trade with too much amount. Let it break the red dotted line first then it gonna fly. We can increase our position then.
Take profit at the mid line or the top depends on you.
Buy now at the yellow line and sell at the red line. SIMPLE;). Don't forget to place the stop loss. This may be the last BTC long trade I think we will see a correction after BTC hit the red line.
Nifty is still in an uptrend. I suggest not to short it yet because there isn't any negative news around like the covid 19 situation. Aah I know there are some news about the re-implementation of lockdown in maharashtra but let it break the channel downward first then we will think about it and second is that, most of the companies have learned how to deal with...
If it rejects from the blue line we will short it for much much big profit;). May be more than 40%.
Just take it. You can also close this trade at 1120. but i wanna see it at 1250 and above it. Thanks to her(will post her trade link below) for sharing thus trade idea.
You can see the entry, and stop-loss levels. Stop-loss is very tight, hope it doesn't break it. Usually 1:3 Risk : Reward trade is termed as a very good trade. You can exit at the orange line(1:3). But if everything plays out as per the pitchfork perfectly than it can turn into a 1:5 Trade:)
The profit target is dynamic. Keep updating your profit target every day at the intersection of the current daily candle and the upper green line of the Pitchfork. Risk:Reward 1:2 Can also be a good 1:3 trade.
Wait for it to clear the resistance at 33.3. If it clears it then the target is 42.