NeeteshJain

Century Textiles Dipping Down

Short
BSE:CENTURYTEX   CENTURY TEXTILES & INDUSTRIES
It is been observed on the hourly chart, that the price action is facing a selling pressure at 817-807 resistance levels, and now it shall further dip down to 50% Fibs retracement levels.

Target 1: 755
Target 2: 744

Stoploss: 801
Trade active
Trade active: It went up with the market but still didn't hit the stoploss and now I believe it will form a Pin Bar bearish candlestick. Regards

Trade closed: stop reached: I initiated without waiting for the hourly chart candle to close and assumed that it may continue its prior trend.

Lesson: Never trade on assumption, wait for candle closing to figure of the direction of price action.

Regards