A Bearish Bat in BF Utilities

Notes on the chart.
Always follow your trade management rules before trading my ideas.

Trade safe, stay healthy.
Do hit the like button for better ideas in future.

Regards
Bravetotrade

評論:

Some traders doubt that its not a good idea to short a stock in equity segment. I would say that its all personal preference.

In this particular trade the idea would be to look for a sell setup in the PRZ and go short. If first target is achieved early on the same day, 2/3rd of the position will be closed and the remaining 1/3rd would be kept with a stop below breakeven. Position will be closed before 3:30 pm (If first target is done in the late session whole position will be closed).

Next day if price opens above from where I closed my 1/3rd trade, I ll continue with the 1/3rd position again with previous day stop.

If the stock starts consolidating near the PRZ, I ll have to reconsider the plan. For risk management, I just mentioned the stop.

評論:

Setup negated. Price shooted up the resistance zone.