Tor Pharma { 15 M Long }IB formed , we 'll Long as it breaks
rest is as per charts
Note :-
Entry - At the break of mentioned candle's low/high
Stop Loss -
In a Short Trade, I always use Previous Candle High ( PCH ) as a stop loss while entering the trade. Sometime I might use 15 M tf SL & trade in 30M tf which I'll mention. Vice Versa for long trades
Trailing Stop Loss ( TSL ) - Mostly I trail stop loss by PCH as price falls . I exit as PCH breaks & vice versa
Use of PSAR as TSL :- TSL get's hit in trend following due to noise, In such cases I use PSAR to be in trend & exit if PSAR direction change
You can use any one of above mentioned or your own way to manage risk
Time Frame :- I take ~ 90% of my intraday trades in 15m tf. Where my analysis might come from higher frames like W , D or 1hr chart pattern which will be mentioned.
Target :- I do set target line based on support / resistance slightly above/ below it . Please pay attention to it
TORNTPHARM trade ideas
TORRENT PHARMA - CUP & HANDLE Pattern - Intraday/Short TermThis analysis is purely based on price action and Chart Patterns.
The analysis is on 15min TF hence target can be achieved in intraday trade or in couple of days
Trade strategy is explained in image itself. Don't chase the price.
Always plan your trade & trade your plan
Keep trailing SL accordingly once entered into the trade.
Trade at your own risk and money management. Do your own study before taking any trade
Feel free to comment for any queries & suggestion
Torrent Pharma - Looks to scale backMay be some news brewing or may be just the push for #NiftyPharma but torrent Pharma is all set to resume upwards journey with highly favourable risk reward ratio:
1. Closed above 23.6 percent fibo Retracement
2. RSI upturn from above 40 levels
3. Support line created for stop loss
Torntpharma - ShortTornt Pharma CMP - 2609.90
Looking bearish in higher time frame. One can go for Intraday Trade setup with the following entry, exit & targets
Sell at or Below 2601 / Stop Loss 2614
Target 1 - 2590
Target 2 - 2580
Target 3 – 2570 / 2560
Disclaimer: This is my view and for educational purpose only.
TORNTPHARM LOOK OUT FOR THESE LEVELS!!! ALL THE LEVELS AND PATTERNS ARE MARKED ON CHART, RED ZONES DENOTES SUPPLY ZONES AND GREEN IS FOR DEMAND ZONE .
SELL AT 2589
The indicator used:
1) Daily Lines plots Daily 20 (BLACK) & 50 EMA (GREY) on lower time frame charts
2) TE-REKAB
- PB : PULLBACK
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The analysis is my POV, hope you got bucks in your pocket to consult a financial advisor before investing :P :)
HAPPY TRADING!