Price action of tatamtrdvr shows weakness with the formation of pinbar , weakening volume and RSI momentum. Once the trendline is broken can go for short. Sell at the price of 322 with stop loss 325. Targets are 316, 312 and 308.
This week I am checking what mistakes I am doing in trading entries. Trading entry against the main index and trading entry along with the main index.
Tatamtrdvr is having resistance at 330. Trend line was broken and i entered trade(against main index). Stoploss got hit. Price touched the resistance and moving sideways now. Entered trade again(along main index). Needs more observation as i expect main index's retracement will last for 2 or 3 days only.
Trade closed: stop reached:
Lesson 1 : Against the main index.
Lesson 2 : Any entry which is too early or too late is wrong.
Lesson 3 : Against Dow tenet "A trend is assumed to be in effect until it gives a definite signal of reversal".