We generally talk about breakdown and breakout confirmations. I have tried to present what confirmations actually are and how they are traded.
Some traders use indicators for confirmations, but in this post i have discussed confirmations based on price action only.
Same strategy can be used for breakouts.
Notes on the chart.
Hit like/comment for better educational posts in future. Trade safe, stay healthy.
Best Regards Bravetotrade
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Fellows, should i link all my education posts with this one post. Just write 'yes'.
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Breakout in BataIndia today was a perfect example of BOS Method. Very strong uptrend supported by overall market strength..no pullback. Breakout candle was huge so no attempt for FB or TFB
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Another example of a recent triangle breakdown in Nifty chart
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Five possible PRR entry points in the Nifty chart.
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Last Example: Nifty today. I know nobody trades 1 min. chart on Nifty but just have a look at it..just an e.g.
sir i have 10lot 11500 and 5 lot 11200 call i loss around 3 k y loss recover hojayga
Bravetotrade
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@MahadevPhad, It's better to do the trading business with at the money or in the money options with stops intact rather than bet holding deep out of money options.
Never buy deep OTM options coz they r cheap.
When in doubt, it's always good to book small loss rather than hold for bigger loss.
As of now chances are bleak for u to recover ur losses. It needs a very strong push beyond 11000 for ur options to get active.