This is good technical analysis, i want to know more about the long entry point.
i came to know about this: A long trade can be entered above the high of the second day's white candle. Place a sell on stop order below the low of the pattern to limit your loss, in case the down trend continues to go down.
but i can not really understand it.
SaurabhMiyani
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@SaurabhMiyani, sorry i miss it 161 is entry point, get it
@SaurabhMiyani, you r right. Theoretically entry would be above 161 in this case and stop below 153.
If this stop is too wide and is beyond one's risk appetite then one can either miss the trade or wait for retracement near 155-156, Stop would be thus quite manageable.
i came to know about this: A long trade can be entered above the high of the second day's white candle. Place a sell on stop order below the low of the pattern to limit your loss, in case the down trend continues to go down.
but i can not really understand it.