,
9 tweets,
4 min read
Read on Twitter
#PriceActionQuiz 2:
Answer all 3 questions in the same format to maintain uniformity. No deviations please -
1) Where would you enter short?
2) What would be your SL?
3) For what target would you play?
#TradeWithPAL
Retweet to expand learning to larger audience!
Answer all 3 questions in the same format to maintain uniformity. No deviations please -
1) Where would you enter short?
2) What would be your SL?
3) For what target would you play?
#TradeWithPAL
Retweet to expand learning to larger audience!
Thank you friends for sharing your responses on this quiz. Many people have answered well. I will now share my view against each question & I hope that it will help you learn something new. 1) Where would you enter short?
1) Where would you enter short?
Here are the possible entries -
a) Enter at next candle open becoz it closed below the recent low (Blue candle with long wick) from where bulls pulled the price up.
b) Wait for price to pull back to EMA21 55.65 & see if it falls again.
Here are the possible entries -
a) Enter at next candle open becoz it closed below the recent low (Blue candle with long wick) from where bulls pulled the price up.
b) Wait for price to pull back to EMA21 55.65 & see if it falls again.
Enter on the break of previous candle low.
c) Sometime price crosses abv EMA21 to take stops & then falls. Enter on previous candle low
d) Monitor the volume on pullback & fall. It should rise with less vol & fall with more
c) Sometime price crosses abv EMA21 to take stops & then falls. Enter on previous candle low
d) Monitor the volume on pullback & fall. It should rise with less vol & fall with more
2) What would be your SL?
There are possibly 4 SLs marked with 1,2,3 & 4. Depending on your risk/money management pls choose one. What is imp is that loss/risk must be fixed. Alter quantity as per SL.
There are possibly 4 SLs marked with 1,2,3 & 4. Depending on your risk/money management pls choose one. What is imp is that loss/risk must be fixed. Alter quantity as per SL.
3) For what target would you play?
Possible tgts are highlighted with black, red & green. Risk reward is very less for black but if you wait for the pull back it will give you at least 1:1. For red it is 1:2 and for Green it is 1:4
Possible tgts are highlighted with black, red & green. Risk reward is very less for black but if you wait for the pull back it will give you at least 1:1. For red it is 1:2 and for Green it is 1:4
Analysis: Price is in uptrend & it made a new high but before it reached the new high, it started making big red candles on pullback (orange circle). Near the high it rejected the price several times (red oval) & price closed below EMA21 with very weak candle.
Next candle bulls made another attempt to take price higher but couldnt sustain & gave up in next to next candle. They tried to make another couple of attempts but every time bears took control & dragged them out. Last 2 super bearish candles made the game clear. Thokoooo!!
Hope you like the quiz. Please retweet to spread the learning!
@niftywizard @sanstocktrader
#TradeWithPAL
#PriceActionRocks
@niftywizard @sanstocktrader
#TradeWithPAL
#PriceActionRocks
