" Shorting " Commercial Break from Bull Run , so if you have the risk appetite Go for it . Else just watch how trades pan out. Always take trade based on your plan :)
Please use Volume Profile as I can see the bearish candle is having wick on down side it indicate short covered but Volume Profile would have given more insight
Regards
Shivakumar
InsiderB
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@shiv2798, Yes you are right, its considerable support area too. Will post out volume profile below
InsiderB
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shiv2798
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@InsiderB, thanks sir
On day chart it's clear it has violated previous area of demand , so likely it will head down, another reason is it's extended bearish candle so lots of supply infused,
Let's see sir how it will play
Thanks a lot
Cheers
InsiderB
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@shiv2798, Superb explanation, I feel you have the knack for Markets..All the Best :)
shiv2798
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@InsiderB, you can see POC is not strong to hold price level , and just above POC the supply is infused {rejection candle} so price is week in Volume based indication too
Thanks
InsiderB
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@shiv2798,2mrw we will have better view whether we get pullback to profile low and retest VAL before moving further down.Lets wait n watch... Good Night buddy !
Regards
Shivakumar