As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=133.1.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: S1=132.6.
TP4: S2=132.45.
Set the stoploss of these orders at breakout of R2=133.3.
Stop and reverse:
If trend gets reversed, buy (stop) orders will be opened at breakout of R2=133.3.
In this situation, there is an expectation to reach the target R3=134.2.
Set the stoploss of reverse orders at breakout of R1=133.1.
