Nifty Trade Setup (24-May-2023)
This will be my personal trade Setup, This is not an advice of any kind to initiate trade according to this setup.
Today as expected and posted in yesterday's analysis Nifty opened Gap up and even tried to sustain the gap but failed as price action went flat for whole day and at close when i checked it rejected today's highs.
For tomorrow i will trade keeping these things in mind:
1.) Today's CPR was virgin CPR and it might test it and may take support near it.
2.) From price action it's in wave in ascending triangle which took support and lower trendline.
3.) If market opens flat and hold 15 min candle about it i will buy CE for target of Today's High.
4.) If market opens gap down and took support at today's Virgin CPR will look for buying CE near this support For target for Today's Open (18365) as that will act as resistance now.
5.) If market opens gap up between triangle then will wait for price action if it breaks this pattern on either side and according to it i will trade.
Hit like to keep me motivated for keeping my trading journal. also one can comment how i can make it better or any improvements i can make in my trading setups or improving this journal.
Today as expected and posted in yesterday's analysis Nifty opened Gap up and even tried to sustain the gap but failed as price action went flat for whole day and at close when i checked it rejected today's highs.
For tomorrow i will trade keeping these things in mind:
1.) Today's CPR was virgin CPR and it might test it and may take support near it.
2.) From price action it's in wave in ascending triangle which took support and lower trendline.
3.) If market opens flat and hold 15 min candle about it i will buy CE for target of Today's High.
4.) If market opens gap down and took support at today's Virgin CPR will look for buying CE near this support For target for Today's Open (18365) as that will act as resistance now.
5.) If market opens gap up between triangle then will wait for price action if it breaks this pattern on either side and according to it i will trade.
Hit like to keep me motivated for keeping my trading journal. also one can comment how i can make it better or any improvements i can make in my trading setups or improving this journal.
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