This is one of the most basic strategy used for intraday. Before applying this strategy make sure that you trade only in good liquid stock and don’t forget to use Sto ploss. So here are the steps –
👉 Select any stock on intraday chart with 15 mins candle
👉 Note High & Lows of first candle i.e 9.15 am to 9.30 am range
👉 Draw channel as seen in chart with taking high & lows of first candle.
👉 Buy when stock cross above high of channel with stop loss as channel range low
👉 Short when stock below low of channel range with High of channel range as stop loss as seen in picture above.
👉 Target can be calculated with help of our Key Levels app using Fibonacci or Gann Calculator
👉 First 15 Mins range is important which decides day trend. Practice on Index first than stocks.
👉 This method works more accurately when stocks open gap up or gap down..
👉 Book gains on same Intraday.. Don’t carry forward
Best of Luck, Happy Investing & Trading 🥂🤝