We have heard this.. same resistance hitting again and again makes it weak? Well that's true but you can never go blind in the market as the market is supreme
Reasons for short: 1) Did not break the resistance third time running 2) Fell down till my price action support. An opening below 374 can look good for a short. Short should activate below days low only at 372 3) The pattern is ascending which supports our short move 4) The breakout of price action support did not get much volume
Now, what if it opens above the support? Then we wait. Long only and only activates above 385 and as this is a long and strong resistance the move breaking it should be with volume, else susceptible.
Be patient. Never have FOMO. Markets are open through your lives, only trade on levels and strictly per rules #Disclaimer: Consult your financial advisor. Trade strictly with stop loss per your appetite. Trail diligently
Any change in view, its broken the resistance this time?
IbankerSid
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@anil2252, Should carry on above days high tomorrow. Should give a good steady move above 406, volume is good enough as well. But trailing frequently will be good as this is now in uncharted territory and the market is very unpredictable for now
anil2252
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@IbankerSid, sorry squared yesterday only at day's high, made money, Tx, thought downward rally today in place of tomorrow shl carry stocs down