Possible Trade Opportunities in BankNifty on 20-07-2023
Dear Friends,
Today I have marked the CE/PE Trade Opportunities Trades can be taken as per the levels.
NOTE:
1: I prefer trades in 3 Minutes time frame when target is small and 5 mins time frame otherwise.
2 : If a candle has broken a particular resistance or support, let that candle close above or below the resistance or support. Also, wait for the next candle to break the previous candle's high or low. This way you can avoid traps and also fake breakouts. I personally see to it that my next candle is not touching the resistance or support line.
Also don't underestimate the power of EMA, the price always tends to return to 20 EMA. Hence if the price is very far from 20 EMA, it may come back to the EMA rather than going further away from EMA.
Do maintain a minimum 1:2 risk-reward ratio. If you have had 3 losses making trades back to back. Just shut the system and wait for opportunities the next day.
Hope the levels stand strong tomorrow.
Happy Trading 1!Dear Friends,
Today I have marked the CE/PE Trade Opportunities Trades can be taken as per the levels.
NOTE:
1: I prefer trades in 3 Minutes time frame when target is small and 5 mins time frame otherwise.
2 : If a candle has broken a particular resistance or support, let that candle close above or below the resistance or support. Also, wait for the next candle to break the previous candle's high or low. This way you can avoid traps and also fake breakouts. I personally see to it that my next candle is not touching the resistance or support line.
Also don't underestimate the power of EMA, the price always tends to return to 20 EMA. Hence if the price is very far from 20 EMA, it may come back to the EMA rather than going further away from EMA.
Do maintain a minimum 1:2 risk-reward ratio. If you have had 3 losses making trades back to back. Just shut the system and wait for opportunities the next day.
Hope the levels stand strong tomorrow.
Happy Trading !!
Today I have marked the CE/PE Trade Opportunities Trades can be taken as per the levels.
NOTE:
1: I prefer trades in 3 Minutes time frame when target is small and 5 mins time frame otherwise.
2 : If a candle has broken a particular resistance or support, let that candle close above or below the resistance or support. Also, wait for the next candle to break the previous candle's high or low. This way you can avoid traps and also fake breakouts. I personally see to it that my next candle is not touching the resistance or support line.
Also don't underestimate the power of EMA, the price always tends to return to 20 EMA. Hence if the price is very far from 20 EMA, it may come back to the EMA rather than going further away from EMA.
Do maintain a minimum 1:2 risk-reward ratio. If you have had 3 losses making trades back to back. Just shut the system and wait for opportunities the next day.
Hope the levels stand strong tomorrow.
Happy Trading 1!Dear Friends,
Today I have marked the CE/PE Trade Opportunities Trades can be taken as per the levels.
NOTE:
1: I prefer trades in 3 Minutes time frame when target is small and 5 mins time frame otherwise.
2 : If a candle has broken a particular resistance or support, let that candle close above or below the resistance or support. Also, wait for the next candle to break the previous candle's high or low. This way you can avoid traps and also fake breakouts. I personally see to it that my next candle is not touching the resistance or support line.
Also don't underestimate the power of EMA, the price always tends to return to 20 EMA. Hence if the price is very far from 20 EMA, it may come back to the EMA rather than going further away from EMA.
Do maintain a minimum 1:2 risk-reward ratio. If you have had 3 losses making trades back to back. Just shut the system and wait for opportunities the next day.
Hope the levels stand strong tomorrow.
Happy Trading !!
Penafian
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