NeeteshJain
Short

Century Textiles Dipping Down

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

snapshot
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
sir should we consider to trade on this again ...seems into your zones now and falling
+1 Reply
NeeteshJain TOP SaurabhSrivastava28
@SaurabhSrivastava28, I believe you should wait for it to close below 770 levels to trade a short in it. Regards
Reply
century.............SL Hit Boss....
+1 Reply
NeeteshJain TOP sunilbhavsar
@sunilbhavsar, Yes it did yesterday. Regards
Reply
nice,mistake are proof that you are trying
+2 Reply
NeeteshJain TOP rupambose32
@rupambose32, Yes Rupam, it is a never ending process of trying, seeking, learning and growing. Regards
Reply
We are out sir :(.
+1 Reply
@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
Reply
dev_trader NeeteshJain
@NeeteshJain, np. Some losing trade is part of trading. Thanks anyways ! Its on radar now.
Reply
Hi Neetesh, could you change your timezone to IST please?
Reply
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