Simple Trade Setup | CITY UNION BANK | 25-10-2021 [ INTRADAY]

23 de out. de 2021

CUB

I am posting this as one of the follower requested.

Observations:

1) On daily time, it took support from 200DMA 3 days before and trading above it.

Also the earlier resistance trendline now working as support trendline.

Immediate resistance level is at 172 level.
Sustainable Breakout of 172 level will give good up move.

Please refer below chart : 1day Time Frame.

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Trade Setup for Date 25-10-2021:

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.

4) Avoid gap up or gap down chase. Wait and trade between levels.

Please refer below chart for levels.


Hope I made it easy to understand it.

Do comment your doubt or suggestion.

Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action works near that level.