Simple Trade Setup | IGL | 12-10-2021 [INTRADAY]

11 Okt 2021

IGL

Observations:
1) On 1 day time frame, we can see that now it is at very critical level range.

It is make it or break it, now. If it took support then we can see good reversal for uptrend. But if it fails then the down move continue.

Please refer below chart : 1 day Time Frame.


2) On 1 hour time frame, we can see hidden bullish divergence as price is made lower low but RSI made higher low.

Please refer below chart : 1 hour Time Frame.

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Trade Setup for Date 12-10-2021:

1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.

2) Everything is mentioned on the chart. I hope it is easy to understand.

3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level.

4) Avoid gap up or gap down chase. Wait and trade between levels.

Please refer below chart for levels.


Hope I made it easy to understand it.

Do comment your doubt or suggestion.

Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action works near that level.