Bear Market Strategy: Bottom Fishing on Gap Down - Example II
But, in the case of Maruti, We are not taking a contradictory bet.
This our basic uptrend trade. Although the targets are drawn using price action. The first target is where the gap fill. The second target is the highest point of the range of the previous day’s sideways trend! We can also draw the targets based on our trailing stop loss method that we have discussed earlier in Bounce.
This our basic uptrend trade. Although the targets are drawn using price action. The first target is where the gap fill. The second target is the highest point of the range of the previous day’s sideways trend! We can also draw the targets based on our trailing stop loss method that we have discussed earlier in Bounce.
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In this method, The trailing stop loss didn’t hit. So, We have to close near 15:00 to avoid automatic square off from the broker and its subsequent charges!