Expecting of a downtrend move towards T1 : 17250 There is Triangular Top Breakdown pattern in formation, Sellers will dominate for a while!
How to trade the setup? When the chart says Long or Short at particular level, Put a Stop Order at those levels, Levels are strict T1 : is Target 1 T2 : is Target 2
When you achieve your first target, book profits of 50% and shift the stops to the cost
The term Catastrophe Stop, is a maximum movement of price that can happen in opposite direction of trade so that the setup remains valid, Its basically used, to give some breathing space to the trade, I may call for a recovery if the setup becomes invalid as the market progress. As we all know anything can happen in the market and we should respect that At Last, do your own analysis, before trading your money!