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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
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
Lesson: Never trade on assumption, wait for candle closing to figure of the direction of price action.
Regards
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SaurabhSrivastava28
sir should we consider to trade on this again ...seems into your zones now and falling
+1
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NeeteshJain
SaurabhSrivastava28
@SaurabhSrivastava28, I believe you should wait for it to close below 770 levels to trade a short in it. Regards
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sunilbhavsar
century.............SL Hit Boss....
+1
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NeeteshJain
sunilbhavsar
@sunilbhavsar, Yes it did yesterday. Regards
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rupambose32
nice,mistake are proof that you are trying
+2
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NeeteshJain
rupambose32
@rupambose32, Yes Rupam, it is a never ending process of trying, seeking, learning and growing. Regards
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dev_trader
We are out sir :(.
+1
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NeeteshJain
dev_trader
@dev_trader, Yes, it didn't work out well. But till it crosses and closes above 818 levels, it will not be a buy. Once it does closes above 818 levels, then it will signal change in trend. Regards
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dev_trader
NeeteshJain
@NeeteshJain, np. Some losing trade is part of trading. Thanks anyways ! Its on radar now.
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akshay.lakhina
Hi Neetesh, could you change your timezone to IST please?
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