ACC Trade Discussion

Amit: Guess the reason.
Prem: SNR?
Amit: Areh Dotted Line is the Trigger. TradingView Chart
Amit: Price Action is basically guessing what can happen based on the past patterns.
Amit: TradingView Chart
Amit: Now see what happened in the last time it broke the ATH.
Prem: Yes it fell
Amit: So I am guessing it will do the same →

  1. It will make a green fat candle as it did today which will “close” above the ATH.
  2. Tomorrow another green candle whose “high” will break today’s “high” but not in that much strength.
  3. Then the next day, it will snap
    Prem: Ok
    Amit: But the point is the snapping happens in the middle (high+low)/2 of today’s candle. So I am keeping an SLM today itself at 2480.
  • So, I will short if 2480 breaks.
  • If 2480 breaks today, then it is, even more, weaker than our thought process.
    This is net of all that went on my head.
    Another quickie is → Since in the whole setup we are expecting the high of tomorrow will be max 30 pt far than today’s high. Just short it right away with high+30 pt SL and forget.
    Prem: Ok That’s too aggressive though
    Amit: No actually. TradingView Chart
    As per our whole assumption, We are then shorting here.
    But, yes, should be shorted tomorrow
    Prem: Ok