This will be my personal trade Setup, This is not an advice of any kind to initiate trade according to this setup. This is for only for my learning purpose and maintaining my trading journal.
Nifty moving in triangle pattern from Daily Time Frame and from past 3 days price action was range bound and consolidating between 150 points from past 3 days.
For tomorrow setup:
1.) If opens flat will buy only after break and retest of this triangle pattern. For target of near by Resistance 18700, 18720.
2.) If open gap up or down then will wait for price action and good setup to form as its range bound from past 3 days.
will not trade if there is no good setup as it is from past 3 days.
Support is placed at 18590,18560 and 18500
Resistance is place at 18665, 18640.
Nifty moving in triangle pattern from Daily Time Frame and from past 3 days price action was range bound and consolidating between 150 points from past 3 days.
For tomorrow setup:
1.) If opens flat will buy only after break and retest of this triangle pattern. For target of near by Resistance 18700, 18720.
2.) If open gap up or down then will wait for price action and good setup to form as its range bound from past 3 days.
will not trade if there is no good setup as it is from past 3 days.
Support is placed at 18590,18560 and 18500
Resistance is place at 18665, 18640.