Simple Trade Setup| UBL | 31-08-2021

UBL

Observations:

1) On Daily time frame it took good support and reversal from 21DMA. And now it is in the critical range and it is to break it or leave it.

Once it starts to stay and trade above 1475 level then it will be good for positional trade with 5% target.

Please refer below chart : Daily time frame.


2) On 15 min time frame we can see that it has been trading in parallel channel/

Please refer below chart: 15 time frame.


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Trade Setup for Date 31-08-2021:

1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.

2) Everything is mentioned on the chart. I hope it is easy to understand.

3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level tomorrow.

Please refer below chart for levels.


Hope I made it easy to understand it.

Do comment your doubt or suggestion.