Chartoftheday
Trade #3 - MOTILALOFS - SWING TRADINGChart name : MOTILALOFS
Risk:Reward : 2.4
Trading Style : Swing Trading for 1-4 weeks
DISCLAIMER:
As a trader, you should consider your own risk: reward ratio and do proper lot sizing according to your margin and leverage level. This analysis is a trading idea, not a trading signal for you. Consult your financial advisor before making any trade.
My own trend direction estimation, entry point, stop loss and take profit levels are on the chart.
Please like, comment, and subscribe; if you find value on my analysis and/or liked my strategy.
Good Lucks.
Chart of the day: 2800 key support level for ESAOver the last 18 months, the 2800 level has been a consistent significant support/resistance level for the ESA. With China making its retaliatory moves yesterday, we are probably at peak negativity with regards to the trade war until the run-up to the Trump-Xi meeting in end June.
Please note, I do not think this is a BTFD moment, it is more of a watch for the consolidation and fade the rallies type situation.
For more information on how to use the SSR levels, please search for Relative Force Significant Support and Resistance under Scripts.