Intraday trade setup for Natural Gas
Today at the end of the market I observed a bearish price action signal in Natural Gas. Tomorrow on 9th November I am to trade intraday in Natural Gas. I will be in a short Position in Natural Gas only if It breaks 224.Target for this intraday trade will be 3 points below the selling level and the stop loss will be 1.5 points above the selling level. See the daily Price chart of Natural Gas on 8th November.
Intraday Bank Nifty Trade Set up
Since After a long time I found a Bearish price action signal in Bank Nifty. Today Bank Nifty moved downwards 250 points and closed downside.This might be a small retracement. Tomorrow on 9th November I am going to trade intraday in Bank Nifty in a short Position only if it breaks 18565 . My target for this trade will be 100 points below my selling level and my stop loss for this trade is 100 points above the selling point.
Daily Price Chart if Bank Nifty on 8th November
Result of Intraday Bank Nifty Trade setup on 9th November
Great downward movement of Bank Nifty as expected. Bank Nifty moved 200 points in downward direction. I booked my profit of 100 points as I explained in my yesterdays bearish trade setup in Bank Nifty. See the downward movement of Bank Nifty today on 9th November in the daily price chart
Result of Natural Gas Trade Setup on 9th November
Today at the opening bell of Commodity market I placed a Pending order in Natural Gas for the short position at 224 as I posted in my yesterdays post above. But my short sell pending order for Natural Gas did not triggered because the point 224 did not came . Therefore there was no trade for me in Natural Gas.
Overall it was a good trading experience for me with Bank Nifty and Natural Gas.
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