TCS Short on 15min Timeframe
Updated
TCS on 15min Timeframe, reflecting a beautiful price action.
It was in an uptrend for a while forming a double top eyeing for a reversal. The point where it formed a second top would have been a great opportunity to short. But who missed at that point including me, now there is another eye-opener.
Forming a strong double top, it reversed from there breaking first leg's low(Support) and then retesting it again(Support turned to Resistance). More importantly, there is a weak candle Doji formed after a series of green candles. Also resembles a lower high point in a downtrend which is a place to enter.
Simply, SHORT.
It was in an uptrend for a while forming a double top eyeing for a reversal. The point where it formed a second top would have been a great opportunity to short. But who missed at that point including me, now there is another eye-opener.
Forming a strong double top, it reversed from there breaking first leg's low(Support) and then retesting it again(Support turned to Resistance). More importantly, there is a weak candle Doji formed after a series of green candles. Also resembles a lower high point in a downtrend which is a place to enter.
Simply, SHORT.
Note
Entry - 1797SL - 1837
Target - 1714
Order cancelled
STBT on Friday would have done the job. TCS opened a huge gap down almost 10% crossing all the entry and target zones.
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