NSE:TECHM has printed a nice bearish pinbar around its life time high......high chance of reversal ...tomorrow i will look to short.......contra trend trade..... risk is high....only trade with light position
Order cancelled
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order not triggered ....trade missed...i wanted to short around 710.1....later moved to 702.1...... but it went down without me
Check Hindpetro daily candle of today and yeaterday.
You will find same vice versa pin bar for long entry and worked perfectly even pinbar was bearish.
Become more confirmed due to not broken of pin bars close price.
Entry was above pinbars high price near 300
And low made only 299.1
And high made 313.
Medium risk high reward.
MohitArora
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Very good call .
But as per my view Short Entry should be taken below this low i.e. 700-697 which give more confirmation for Reversal for Short term .
Otherwise if took entry at 710-15 then its more risky and Pinbar will not be perfect bearish if it allow price to reach its half candle.
Even my Stop loss could be near 715-720 for short entry at 700-697.
You will find same vice versa pin bar for long entry and worked perfectly even pinbar was bearish.
Become more confirmed due to not broken of pin bars close price.
Entry was above pinbars high price near 300
And low made only 299.1
And high made 313.
Medium risk high reward.