Dear ST,How the TP calculated?
Adhi NarayananThanks for the visitTP is not a calculated levelJust marked where I took the profitST
Dear ST,Please explain how did you decide about the 1st and 2nd TP area. Was it some decision point or pre-decided profit-booking level like 20 points or so?Please also guide as to how can we develop our own tactics for trading the given structure n patterns!
Mohit Sharma20 point is a thumb rule.NF rarely move more than that without a pull back.There are no fixed rules.Today after the BO of PDH notice two bars with upper tails . This showed Nifty needed some rest. I exited and re entered when the TST of PDL held.On second breakout. Nifty did not move much higher. I waited for the pull back and remained in the trade as the flip zone gave supportYou can start with my method and later tweak it to suit your personality.ST
Dear ST,One more question - I think the second trade taken by you as TST of PDH could also be traded as BPB of PDH. Please comment!
MohitYes, I considered it as TST because it pulled back immediately after the breakout.Bo not think too technical and do not try to define everything . The question is whether an important flip zone holds or not.ST
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