Breakout candle on 1July with good volume and retest happening on 14 and 15July. Consecutive bearish candle at top with low volume, so I will not consider it as trend reversal yet.
Wait for one good solid bullish candle with volume to confirm the support retest and then should be a good setup for entering short/medium term long position.
I will not enter without confirmation and follow up as Nifty is trading at all time high.
P.S: This is NOT an investment idea or trade tip. You can use this chart for learning purpose. Trading decision to be taken at your own risk.
Wait for one good solid bullish candle with volume to confirm the support retest and then should be a good setup for entering short/medium term long position.
I will not enter without confirmation and follow up as Nifty is trading at all time high.
P.S: This is NOT an investment idea or trade tip. You can use this chart for learning purpose. Trading decision to be taken at your own risk.
Comment:
Confirmation is always needed for any breakout or retest trading. This is a good example about why one should only trade after confirmation. As I mentioned earlier entering without confirmation would be big risk.