BANKNIFTY--Trendline Breaks ??
Updated
Price opens gap up above the trendline, and failed to take the help of trendline.
sellers are aggressively taken the price towards demand zone.
Reached our targets on bottom side up to demand zone.
now interesting point is,
price exactly closed at the previous supply zone, where previously a strong sell off is observed.
If price wants to go downside, this is the place to take it downside...as already discussed earlier.
we will go for buying only if trendline acts as support, we will initiate a long entry...
if demand breaks and gives us pullback will enter on short side, with small stop loss.
In smaller time frame, price broken the trendline and closed below it.
will see what happens tomorrow in live.
sellers are aggressively taken the price towards demand zone.
Reached our targets on bottom side up to demand zone.
now interesting point is,
price exactly closed at the previous supply zone, where previously a strong sell off is observed.
If price wants to go downside, this is the place to take it downside...as already discussed earlier.
we will go for buying only if trendline acts as support, we will initiate a long entry...
if demand breaks and gives us pullback will enter on short side, with small stop loss.
In smaller time frame, price broken the trendline and closed below it.
will see what happens tomorrow in live.
Note
Price exactly opnes in supply zone...Don't go for short...It may goes up...voilation of trendline...will look for buying...
Note
will go for long again if breaks above.Note
Note
Safe traders take the entry, break and retest....Double confirmation.Note
If anybody wants to exit...exit if trendline breaks. safe one'sNote
Reason for keep in the trade is broken trendline...Note
will see what happens.Note
Keep an eye on this zone 45925...yesterday strong sell off happens.Note
Safe one's exit from long....this zone pushes the price down...Note
I am in long...Target or stoploss.Note
I am changing my SL to, swing low...no momentum Note
price is still in a range.Trade closed: target reached
Target1 done....not giving much due to volatality and decay...Note
Changing my Sl to 45900., reducing risk to small.Note
buyers are eliminated by each move...Trade closed manually
I exited from the trade....not moving much.Trade closed: target reached
Before selling pressure comes...its better to to exit.Note
In that demand...Bulls may be windup thier positions or initiate thier positions don't know.wait before sell.Note
look for sell only when..price falls below...channel and retested..until no short.
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