Nifty 50 IndexShort
nifty M pattern trade
Updated
with recent low (27th jan 12:15) to yesterdays high drawn a fib
today nifty's high was near about 0.6 fib lvl which os considered to be good lvl of retracement
if you considered previous few session kind of wedge pattern is forming
if the price breaks the arrow line then it can fill up today's gap upto 17625
just above the 0.6 fib lvl can be stop loss
today nifty's high was near about 0.6 fib lvl which os considered to be good lvl of retracement
if you considered previous few session kind of wedge pattern is forming
if the price breaks the arrow line then it can fill up today's gap upto 17625
just above the 0.6 fib lvl can be stop loss
Note
the price touched but didnt close below our short entryOrder cancelled
this is why closing of candel is so important
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