**Please do back-test strategy and then trade.
candle time-frame 15 min
Strategy is very simple. Choose the stocks for which 1st candle is engulfing next 6 candles. Then punch order below first candle low or above first candle high.
chartink.com/screene...-bound-in-first-1-hr
Scan by this.
You may get a good trade with it. For SL see below rules
For buy SL will be first candle low
For sell SL will be first candle high
In case of candle is too big you can go to lower timeframe rule.
At last decide your position size based on the risk appetite.
candle time-frame 15 min
Strategy is very simple. Choose the stocks for which 1st candle is engulfing next 6 candles. Then punch order below first candle low or above first candle high.
chartink.com/screene...-bound-in-first-1-hr
Scan by this.
You may get a good trade with it. For SL see below rules
For buy SL will be first candle low
For sell SL will be first candle high
In case of candle is too big you can go to lower timeframe rule.
At last decide your position size based on the risk appetite.
