Short Nifty at 15140 : Shorting at Resistance - Trading Wave C
Short Nifty at 15140
Stop-loss 15275
Target 14311 : Where C = A & Risk/Reward is 1:6
Target 13721: Where C = 161% of Wave A & Risk/Reward is 1:10+
It's been a spectacular bull run since March 2020 Lows. Expecting some correction or deeper pullback this time.
Nifty trading at resistance or near to Corrective Wave B highs.
I'm shorting nifty, anticipating that Wave B is completed at 15273, and now we are going lower in Wave C for a target of 14311 ( C=A ) or deeper at 13721 ( 161% of Wave A )
We can never be sure that it's a Wave C and Nifty will fall. Trading is all about probabilities, It's probable that Wave B is completed and Nifty may fall or correction may come in form of Wave C to mention targets.
We can not control the outcome, we can only control our trade.
If I'm wrong on this trade then my Stop-loss is at 15275 or 135 Points. It's a good opportunity to trade for me because of the Risk To Reward Ratio.
Stop-loss 15275
Target 14311 : Where C = A & Risk/Reward is 1:6
Target 13721: Where C = 161% of Wave A & Risk/Reward is 1:10+
It's been a spectacular bull run since March 2020 Lows. Expecting some correction or deeper pullback this time.
Nifty trading at resistance or near to Corrective Wave B highs.
I'm shorting nifty, anticipating that Wave B is completed at 15273, and now we are going lower in Wave C for a target of 14311 ( C=A ) or deeper at 13721 ( 161% of Wave A )
We can never be sure that it's a Wave C and Nifty will fall. Trading is all about probabilities, It's probable that Wave B is completed and Nifty may fall or correction may come in form of Wave C to mention targets.
We can not control the outcome, we can only control our trade.
If I'm wrong on this trade then my Stop-loss is at 15275 or 135 Points. It's a good opportunity to trade for me because of the Risk To Reward Ratio.
Dagangan aktif
Nota
Nifty set to open above Stop-loss price @ 15275. For me any single tick above SL is a stop-loss triggered to exit position. In case like today when opening is above the stop-loss price, I will wait for the 15 min 1st candle to get completed & will be placing stop-loss at 9:30 at the high of 1st candle.
This is not the 1st time, in past there are many caes like this.
Nota
Nifty Stop-loss is at 15337. Any single tick above 15337 is SL triggered. CMP 15300Nota
Nifty Shorted at 15140Target is 14311 for 1:6 Risk / Reward - Where C=A
Today's Low So far 14350.
CMP 14400
The next Target is 13721 For 1:10 Risk/Reward
Not in a hurry to book profit, let the profit run. Awaiting 13721 With Trailing Stop-loss.
Nota
1:6 Risk/Reward achived at 14311. Nifty Shorted at 15140.Awaiting 1:10 Risk/Reward at 13721.
Nota
C=A is completed.
Awaiting C = 161% of A. at 13721
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.