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
Related Ideas
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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