Reason for the trade:
1)Rounding bottom (Price action pattern).
2)S/R Flip with good volume.
3)Pullback trade on long side at 538
Sample position sizing for the trade:
Portfoilio : 70,000
Risk : 2.00 %
Amount at Risk : 1,400
Stock price : 538.00
Stop loss Price : 528.00
Loss per Share : 10.00
No of Shares : 140.00
R:R ratio - 2.6...
Reason for the trade: Inverse Head and shoulder
Big red candle are seen in the pattern but prices are not moving down much forming base candles with long wick(Some signs of rejections to the downside)
and also i will not enter the trade at current price but will wait to see the volume in the future charts while breaking 14876-14900 range.
Target - 15200
TRADE IDEA: Look for a short opportunity on NSE:ASIANPAINT at 2500
Short entry: 2500
Risk:Reward - 1:3
Reason for the trade: FTR supply.
Sellers are on command in this stock as price is being sold on every small rise and price comes down with good momentum.
Disclaimer: Author may enter in trade so take your own decision. This is an trading...