BANKNIFTY TRADING

Don't Overtrade,
Do Trade when you get your setup right.
Trade with the timeframe you can understand better.
Refer Smaller frames for better understanding.


Explained
1st trade ended in loss
Next 2 trades were ended in profit

1st Trade:
Target was set near yesterday's low, but the market reversed before that @ psychological level of 36000

2nd trade:
As there was high bearish pressure, waited for the price to break the neckline with impulse.
As it did, entered Short trade immediately after a small consolidation and Breakout with small SL.
Two Targets were set-- 1st one @ Day's Low & 2nd one @ Important support from where the market reversed previously.

3rd Trade:
This was a risky one but had the conviction that it was a Bull Trap.
As the price break the consolidation with impulse, Waited for a rejection near Neckline.
(In order for it to be bullish , price should break the neckline with impulse).

As the price took a rejection entered short trade immediately with small Sl.
Traded for the same targets of Previous trade.