Simple Trade Setup | BEL | 11-01-2022[INTRADAY]

10 Jan 2022

BEL

Observations:

1) On 1 day time frame, we can see it just took support from 50DMA.

50DMA is immediate supprot and is placed at 208.57 level range.

Please refer below chart : 1 day Time Frame.


2) On 15min time frame, we can see formation of double bottom pattern.
Breakout level range is 211.55-212 level.
If it gives breakout of this range then we can see an up-move.

Please refer below chart : 15min Time Frame.


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Trade Setup for 11-01-2022

1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.

2) Everything is mentioned on the chart. I hope it is easy to understand.

3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level.

4) Avoid gap up or gap down chase. Wait and trade between levels.

Please refer below chart for levels.


Hope I made it easy to understand it.

Do comment your doubt or suggestion.

Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action works near that level.