ashok leyland short(for 18th may 2020 and view for next week)
Updated
reasons:
1. 38% retracement in the fall has been achieved.
2. has made a gravestone doji in the weekly tf.
3. in daily tf has broken the 20 sma with a sold black candle confirming the bearish pressure.
4. if the fridays low is broken a move on the downside is expected.
5. entry can be taken based on 15 mins chart or 5 mins chart squeeze b/o ( because i like to trade with momentum).
Pls Note: i give intra day calls, but i analyse and decide my trades based on the bias from the bigger tf i.e weekly or at times even monthly and my execution timeline is 15 mins in some even 5 mins.
1. 38% retracement in the fall has been achieved.
2. has made a gravestone doji in the weekly tf.
3. in daily tf has broken the 20 sma with a sold black candle confirming the bearish pressure.
4. if the fridays low is broken a move on the downside is expected.
5. entry can be taken based on 15 mins chart or 5 mins chart squeeze b/o ( because i like to trade with momentum).
Pls Note: i give intra day calls, but i analyse and decide my trades based on the bias from the bigger tf i.e weekly or at times even monthly and my execution timeline is 15 mins in some even 5 mins.
Note
worked exactly as expected ! If any of you made money out of it , do give it a thumbs up.Thanks
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