In this approach, Once Breakout or Breakdown levels are breached, we initiate Long or Short positions accordingly with Proper stop loss as mentioned in the chart. Since the Risk Reward is 1:3, we can take a maximum of 3 trades.
If we follow this approach, over the long run, money is gained.
A trader is advised not to treat these setups as lottery tickets....
observations::
After a strong fall from 178 range price is slowly approching the supply area....
slowly moving upwards in a channel.
we have a demand zone @ 169-170 range...
we have Resistance @180 range as well...
if suddenly price is breaks the supply area.. look for sell @180 range.
keep track this levels.
