Nifty is currently trading at the potential reversal zone formed by the XABCD bearish Shark pattern.
If the marked trendline is broken after the price gets rejected from the PRZ, short Nifty and target zone would be the 0.5-0.618 fib retracement zone of CD swing.
The stop loss must be strictly followed, above this level ( 17266), shorts are going to be trapped.
The levels are mentioned on the chart.
Happy trading :)
This is just for educational purposes.
If the marked trendline is broken after the price gets rejected from the PRZ, short Nifty and target zone would be the 0.5-0.618 fib retracement zone of CD swing.
The stop loss must be strictly followed, above this level ( 17266), shorts are going to be trapped.
The levels are mentioned on the chart.
Happy trading :)
This is just for educational purposes.
Trade closed: stop reached:
trade went the opposite of our idea.