Today’s Trading Ideas |BUY & SELL| 28 July

Sell Trade: LyondellBasell Industries N.V. (LYB)– 96.92

Trading

Trade Details:

1. Reversing from trendline resistance.
2. This is contra trade, we will take entry as a scalper because there is a high resistance zone.
3. Wait to cross our entry price to enter into this trade.
4. RSI is in a downtrend at 52
5. Trail your stop loss at entry price after getting a 1:1 risk reward.
6. Risk Reward 1:4
7. When you are entering into this trade look at the overall market trend. If the overall market trend is negative then this trade will become a high-probability trade. And you can take entry again in this trade.
   
   Trade, SL, and Target –

Entry = Below 96.87

Stop Loss = 97.41

Target = 95.65 & 94.85

Please note: If it waits too long to move towards our target then you can exit from the trade. You can take Re-entry if it triggers our entry price again after hitting SL at first try.

Breakdown Trade: Darden Restaurants, Inc. (DRI) – 170.26

Trade Details:

1. This stock is taking resistance at the upper trendline zone.
2. You can keep your stop loss above the last swing high.
3. RSI is very bearish.
4. Trail your stop loss to the entry price after getting a 1:1 risk reward.
5. Risk Reward = 1:3, You can book some profits around the lower trendline because it is a support zone.

Trade SL and Target –

Entry = 169.78

Stop Loss = 170.60

Target = 167.30

Please note: Trade this only if it breaks the lower swing, below 169.78. You can also hold this trade for the next trading session only if you are in the profit. (Never hold any losser trade for the next trading sessions).

Long Trade: Synchrony Financial (SYF) – 34.74

1. This stock is now trading at the support zone.
2. Don’t trade this stock in case of Gap down opening.
3. This stock is reversing in the Daily and hourly time frame chart from the strong support levels.
4. RSI is looking bullish for the next few days.
5. Strictly follow the Stoploss and Target. It may go against our favor in the market volatility.
6. Risk Reward = 1:3

Trade SL and Target –

Entry = Above 34.78

Stop Loss = 34.59

Target = 35.30

Please note: Ignore this trade if the market opens Gap Down. You must have to exit at the target as well as follow the SL strictly.

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