So today we will discuss two more price action setups to get good long side trade for intraday. 1. PDC Acts as Support 2. PDH Acts as Support
1. PDC Acts as Support In this setup after gap up, in first our of trading session price approaches PDC but fails to break below PDC convincingly.
Once this condition is ready then all we need to do is place buy stoploss order above "hourly high" with stops below DAY LOW. Close trade : Either at SL or at 3:15
Couple of examples of the above setup given below.
1. PDC Acts as support example:
2. PDC Acts As Support Example
2. PDH Acts as Support In this setup after gap up, in first our of trading session price approaches PDH but fails to break below PDH convincingly.
Once this condition is ready then all we need to do is place buy stoploss order above "hourly high" with stops below DAY LOW. Close trade : Either at SL or at 3:15
Couple of examples of the above setup given below.
1. PDH Acts As Support Example
2. PDH Acts As Support Example
Do your own work on the setups. Add couple of more indicators if you need and refine the strategy as per ur conviction. Without own efforts no setup works. So put down your efforts and practice.
PDC : PREVIOUS DAY CLOSE (OF DAILY CANDLE) PDH : PREVIOUS DAY HIGH.