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DATE: 11th October, 2024
TRADE LOGIC: False Breakout (FB) Trap+ Trend follow.
Indicators used:
1. Moving Average Exponential (EMA) [Length-9]
2. LuxAlgo- Supertrend AI [Default settings, Only enabled Trailing Stop and Labels]
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Indusind Bank was bearish on a longer timeframe (used 1hr). After opening it showed strength but failed to close above its previous resistance (1370) and the buyers were trapped who taken bullish trade on day high breakout. SuperTrend AI suggested a downtrend after False Breakout. Once the price closed below EMA, trade initiated on retest and trailed SL till it reaches its support of 1339-1340.
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Indusind bank given a quick downside momentum showing a good ROI in PUT side premiums.
š”š¢š§š: This is only for Educational Purpose and Indicators are just a confirmation for your direction but the actual movement depends on various factors. Please manage your Risk Reward Ratio to grow your wealth.
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