range breakout with engulf candle

11 thg 8, 2022

Some key points are mention in chart
This was on bearish journey from last one year & right now accumulation is done in a range & prepared for fly .
This is a range breakout.... Range is 15%
How to enter-:
> small range-- one should enter at breakout level(range like-4-8%)
>Big range ---one should enter at lower level of range with very small SL (just below the range like 2-5% so that due to volatility no hunting of SL)
Targets & SL--
1st target -490(27%)
2nd target-550(45%)
SL 1st - mid of range (15/2= 7.5%)= [1st target- 1:3.7,,2nd target-1:6} [these are medium term levels --2-3 months]
2nd- low of range(15%) ={1st target-1:1.8, 2nd target - 1:3}
Happy swing trading