Wednesday, 31 August 2016

2 comments:

  1. Dear URD, Why u thought that the location above 8020 is a possible entry point, as there is always a chance to form a range low below that level..

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    1. Prabakaran

      You need to understand the intensity, momentum with which prices have been moving. It was expected to remain rangebound but the momentum is so much that it has been continuing to trend. When the prices trend, we get the chance to enter in the form of TRAP entry. Here the level around 8820 (last pullback low) may act as a range and give us TRAP. In fact, it did TRAP pattern to initiate long. If it does not work then prices may not break the highs and small SL will get hit. That is the minimum risk. If you are willing to take this small risk, look for trade or wait for more confirmation. Now the range low has shifted to 8816.
      URD

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