Do You Trade The Confluence ?

Notes on the chart.

Trade safe, be healthy.
Do hit the like button.

Bravetotrade :-)

Nota

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Close above 374 would be the first sign that further upside is possible.

The level 378 would be worth watching if 374 is breached on upside.

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Took 1/3rd profit @ 377

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We might face some Resistance or consolidation before crossing 378 as this is 61.8,% ret. if the recent down leg.

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I might reconsider adding this 1/3rd position again if and only if the stock topples to 370-372 area.
The SL for the rest of position is same.

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Although the candle on the daily chart was an indecisive Doji, it still managed to close above 374 -- our first level of resistance. It is a dubious positive signal for this trade as I dun see enthusiasm by the buyers beyond resistance. Some consolidation above 374 will be good though for the near term.

The big bearish candle of 12th Dec. is a very bearish signal, which might hurt our last target. If bears take control the stock might reverse from the 386 level. So at that level I ll take another 1/3rd profit and trail the rest for 393.

This trade is so far good and hope for the best.

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As planned 1/3rd position was added again at 369.60 and exited at 377 again.
SL for the rest of position is below today's low.

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I am expecting the completion of the current third leg. I ll also scale out as planned above.

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There could be a bull flag break tomorrow.

Dagangan ditutup: sasaran tercapai

Second Target hit. Flag break worked. Left with 1/3rd now. Will update SL..

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TSL is 384 now.

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Stock is reversing just 2 points shy of my target. Its difficult to hold and wait at this point. I am trailing Sl to 388.50 now and exit entire position.

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Sl revised to 389.80

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Sl revised to 390.80

Dagangan ditutup: sasaran tercapai

closed position at 392.50
After such a nice trade, I would like to sit on hands for the entire week or even month. All the best.

Nota

I am not participating in this down move.

Bravetotrade

JJ Singh
Trader/Investor
Moderator, TradingView

🚀Join t.me/jjsingh_2020 ,
A Free Education channel

🚀Tweet at twitter.com/JaySingh_2020

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Bravetotrade

JJ Singh
Trader/Investor
Moderator, TradingView

🚀Join t.me/jjsingh_2020 ,
A Free Education channel

🚀Tweet at twitter.com/JaySingh_2020

Juga pada: