Century Textiles Dipping Down

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.



nice,mistake are proof that you are trying
+2 Reply
NeeteshJain dr_professor_nifty
@dr_professor_nifty, Yes Rupam, it is a never ending process of trying, seeking, learning and growing. Regards
sir should we consider to trade on this again ...seems into your zones now and falling
+1 Reply
NeeteshJain SaurabhSrivastava28
@SaurabhSrivastava28, I believe you should wait for it to close below 770 levels to trade a short in it. Regards
century.............SL Hit Boss....
+1 Reply
NeeteshJain sunilbhavsar
@sunilbhavsar, Yes it did yesterday. Regards
We are out sir :(.
+1 Reply
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
dev_trader NeeteshJain
@NeeteshJain, np. Some losing trade is part of trading. Thanks anyways ! Its on radar now.
Hi Neetesh, could you change your timezone to IST please?
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