Simple Trade Setup | RELIANCE | 25-08-2021

24 ส.ค. 2021

RELIANCE

Observations:
1) On 1 hour time frame earlier it had made inverse head and shoulder pattern which we already covered in earlier post[Link is at the bottom of this].
Now it has made rounding bottom pattern on 1hour time frame with neck/breakout line at level 2190.

Please refer Chart below: 1 hour time frame.



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Trade Setup for Date 25-08-2021:

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 tommorrow.

Please refer below chart for levels.



Hope I made it easy to understand it.

Do comment your doubt or suggestion.