Tuesday, 2 January 2018

IBULHSGFIN Future trade 02012018

Here I am sharing with you the trade setup in IBULHSGFIN Future that I traded today.  Let's have a look at the setup that prompted me to trade it.  Marked all the important points on the chart.


As you can see, it broke out of long narrow consolidation on 1st Jan with good momentum.  But it could not sustain and reversed in V shape very soon indicating a good breakout failure.  This breakout failure prompted me to look for a good short entry today as marked below.


This trade worked well and produced profit of Rs. 4000++ per one lot.  There are also few other things like overall market trend, market breadth, volatility, risk reward, momentum etc that I keep in mind before initiating a trade in stock futures along with reading of price action.

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