Trade 5

During my historical trade practice session, I found this trade. At 9:20 I look for a massive break with good volume. I have to wait for its conformation.

Step 1: People were waiting on 50 MA and pivot points (horizontal black line) to take the sell trade. 

Step 2: After taking support at the lower end it again rises up to 20MA line. People waiting at 20MA hit the stop loss. 20 MA and 50MA Important point for intraday today noted.

Step 3: Consolidation phase wait for any volcanic eruption.

Step 4: suggests 20 MA important lines.

Step 5: People buy hit with a solid green rise. Most important it was above 20 MA.

Step 6: Confirmation as it hit 50 MA with little increase in volume. I took my entry. It kept on crossing 200 MA and pivot points with good volume and strong solid green candle. People were waiting at 200 MA pivot point to take there buy call. Good volume is proof of that. It also crossed that day high. 

Step 7: I booked my profit as a red strong solid candle crossed the last green candle. I could have waited for 20MA or 200MA.

Note: All these analysis are from past. So take your own decision to make any trade in real market.