BANKNIFTY short setup

Oct 17, 2018

Short BANKNIFTY below 25000

T1: 24675
T2: 24350

SL: 25210

Oct 19, 2018

Trade closed: stop reached

Oct 19, 2018

Note

Tough fight going between bulls and bears at the channel bottom to gain dominance.

Oct 19, 2018

Note

I have seen taken many trades in the past when price opened above my buy entry/below my short entry yet I waited for a pullback towards my entry level. Most of them were unsuccessful.
This trade is one such unsuccessful trade. Price opened at 24966. I waited to short at 25000 level and SL hit immediately. In future i will avoid taking position in such scenarios or find a better way to rule out the odds against my favour.