Hello fellow traders !!!
i am sharing with you one of my personal charts. There is a saying " Plan your trades & then trade your plans ".
Today i am just sharing with you my trading plan & the thought process behind it when i took the short trade in ceat @ 1310.
(1) The stock was in a clear down trend.
(2) The price got rejected from the sell zone marked on the chart. (50- 61.8 fibbs retracement)
(3) bearish cypher at the sell zone.
(4) trend line break.
(5) Last but not the least..... i knew my stoploss ( 1378) .
Now i also have a confirmed down trend channel in my favour..... so will exit my short trade only on break of the downward channel or till my targets are achieved.
I would not advise you to take fresh short trades as risk reward is not favourable. but i have a strong feeling that a weekly closing below 984 might possibly take the stock to the mentioned levels on chart.
Trade safe.....trade wise !!!
i am sharing with you one of my personal charts. There is a saying " Plan your trades & then trade your plans ".
Today i am just sharing with you my trading plan & the thought process behind it when i took the short trade in ceat @ 1310.
(1) The stock was in a clear down trend.
(2) The price got rejected from the sell zone marked on the chart. (50- 61.8 fibbs retracement)
(3) bearish cypher at the sell zone.
(4) trend line break.
(5) Last but not the least..... i knew my stoploss ( 1378) .
Now i also have a confirmed down trend channel in my favour..... so will exit my short trade only on break of the downward channel or till my targets are achieved.
I would not advise you to take fresh short trades as risk reward is not favourable. but i have a strong feeling that a weekly closing below 984 might possibly take the stock to the mentioned levels on chart.
Trade safe.....trade wise !!!
Nota
Target -1 doneNota
trade closed @ 937 as ceat is out of FNO .
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.