Here are my stock trades/set-up explanations & charts!
Trade Date: 17 March 2022
How and Why do I trade EIH Ltd today?
- The MACD and Stochastics set up on the daily chart were looking promising.
2. Hotels, as a sector, are doing well.
3. RSI was above 50, which gave me some confidence
4. MACD had a Golden Cross (GC) below the zero line
5. Volume was picking up and went above its moving average
EIH trading in a range, and one can also draw symmetric or ascending triangles.
With a risk/reward ratio of at least 2, I will be positioning a stop loss at about 3.5% and expecting about 7% if the trade goes in the right direction.
Look at the MACD / Stochastics & RSI setup.
WHIRLPOOL: WHIRLPOOL CORPORATION OF INDIA LIMITED
Whirlpool of India bounced off major support at 1533 and with MACD & stochastics had a golden cross indicating probably bullish momentum.
RSI is yet to cross above 50, which will confirm the trade direction.
I hope you liked the trades and explanation. Do share your thoughts on this trading strategy or any advanced techniques. Every week, I will update my trading log and post it in subsequent updates.
Do your due diligence if or when placing a trade. All ideas stated here are my own and do not represent trading or investment advice.
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