TATACOMM triangular breakout

Target and SL defined on charts. Take trade reponsibily!

Trade active

Breakout confirmed. Cheers 🥂

Note

If you want insured profit - 1950 is a good price to book. But, if you wish to book greater profits, trail SL till the mentioned target.

Note

All time high breakout today. 2K is a psychological resistance level 🤞🏻 (profit booking might come here). Also, a good place to exit.

Note

Trail SL near 1850 zone

Trade active

Position halved yesterday (loss booked: 1K) because price action is bearish (it broke previous base). Holding the remaining half till the price action is taking support from the blue coloured support line.

That's why we keep SL in market to protect losses. Earn 10K when price action follows technicals but loose only 2-4K if not followed like in this case.

Trade active

Signs of bottom formation on charts. Let's see if we would add or exit

Note

Trading positional takes a lot of patience 😅

Note

Reversal was confirmed two days back from the consolidation. Technically, it should hit 1900 levels. I have yet not averaged out my position because RSI still is in the non-decisive range.
It's really tempting to add because it looks like it is sustaining 1800 levels.

One strategy I am thinking of is let is touch 1900 levels and I'll exit because price action did not follow my expectations and I should be able to even-out the losses booked for the previous portion of my square off. Let's see in the next session

Note

I am almost at breakeven for net P/L for my current position. It's tempting to square off 😅

Note

This is exactly how market plays with your patience.
Today, it was below 1800 levels in morning when I thought I should exit the remaining position(see the reason above in comments) but towards the day end, it closed around 1800 and I went back to hold till 1900 😆
Tomorrow should be the judgement day!

Note

200 EMA should be our last hope. Exit if price action closes below it.

Trade active

Around 1850 spot levels - exit because it failed to follow our expected price action after entry.

Some might see not-so-clear negative divergence on daily charts. But hey, we have to accept our defeat in markets giving away small losses to the market.

My current loss is Rs. 600 and some time back I had booked 1K loss in this symbol.
However, I was able to recover this by booking 7K profit following the same rules of trading in Hindustan unilever from recent breakout (2400 to 2700 spot levels - ~300points ).

Give less loss to market and take more profits - that's the key!

Trade closed: stop reached

Remaining position closed today with 200 Rs profit.
Net 1.3K loss booked in this trade.
I exited because chart is distorted as of now on daily. Price action did not follow how we expected the chart to move.

ypahalajani

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ypahalajani