FINNIFTY Expiry Day Trade Setup (23-May-2023)
This will be my personal trade Setup, This is not an advice of any kind to trade for anyone.
Price is moving in Triangle Pattern will Break of this can give good trade setup, will follow these points:
1.) If opens flat between this triangle then will wait for price to break this pattern as buying PE near upper triangle trend line resistance for target of lower triangle trendline will be slow and there will be theta decay which will just eat premium.
2.) If opens gap up will look for nearby resistance levels. CPR Levels to be in a trade.
3.) Same for Gap down opening only will if it sustain support or if it rejects it.
4.) As it is expiry day so there will be volatility and if setup isn't good due to theta decay it will only eat premiums. Also if i place any trade in FINFIFTY i will be sure to book profits as soon as possible. and will try to look for 5 minute chart to enter a position and 1 minute chart to close my position.
Hit like to keep me motivated for keeping my trading journal. also one can comment how i can make it better or any improvements i can make in my trading setups.
Price is moving in Triangle Pattern will Break of this can give good trade setup, will follow these points:
1.) If opens flat between this triangle then will wait for price to break this pattern as buying PE near upper triangle trend line resistance for target of lower triangle trendline will be slow and there will be theta decay which will just eat premium.
2.) If opens gap up will look for nearby resistance levels. CPR Levels to be in a trade.
3.) Same for Gap down opening only will if it sustain support or if it rejects it.
4.) As it is expiry day so there will be volatility and if setup isn't good due to theta decay it will only eat premiums. Also if i place any trade in FINFIFTY i will be sure to book profits as soon as possible. and will try to look for 5 minute chart to enter a position and 1 minute chart to close my position.
Hit like to keep me motivated for keeping my trading journal. also one can comment how i can make it better or any improvements i can make in my trading setups.