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
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Trade active
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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
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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.
@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
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@NeeteshJain, np. Some losing trade is part of trading. Thanks anyways ! Its on radar now.
akshay.lakhina
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Hi Neetesh, could you change your timezone to IST please?