I was wondering if anyone has any suggestions on how to confirm a supertrend signal. How to confirm the supertrend signal Technical Analysis Difficult to trade, but rewards can be big. Big emotions are at play in the first 5 mins - when the trade goes in your direction you feel you are missing the entry, or when the trade goes against you, and you feel you have called the direction wrongly. A mistake I made was not being patient to wait for the retracement, and entering manually.
This is a stock which almost always gets you in on the 61.8% retracement, with its big price swings. On two previous occasions I had my stop loss being hit when i was not watching, so i decided to keep a wider stop loss of R.20.
Otherwise it is an unpredicatble stock to trade. Infibeam is susceptible to pretty big price swings intraday, so I keep a wide stop loss and a big profit target so I can exit when I want.
I had a feeling today will be a down day, so I set my target exit price pretty high (RS.50, in fact). (Manually exited when profit reached 28% as I had to go out on some work. Long Entry 1280 Exit 1285 (BO, target hit and squared off) Trade closed during the first 3 minutes. Short entry : 983 (sometime during the first 3 minutes) exit 993 at around 10 am (Manual square off since target was not hit and reversed direction. This is what happened in the last 3 days (including today)