I don't know why othere are talking about head and shoulder patterns however market is in a downtrend and there is a clear elliot wave structure. Target profit level should be 25500 however it is likely that it will go even lower.
Nifty has a trend line resistance and a higher timeframe supply nearby. Aggressive entry will be shorting at 18200 with a stop loss of 60 points i.e., 18260 Another reason for shorting is Nifty gave an up move of almost 240 points and I'm expecting a correction at this point. Even if it takes stop losses can try to enter the trade once it gives downside...
Btc at important zone....daily candle closing below 17000 will drag btc to further low.....
Planned this trade in 5 min TF. Can plan this trade with a Small SL Managing the trade: If the trade goes in our way *Exit half Quantity @1:1 Risk/Reward Target and Shift to SL to cost *Exit Half of the remaining with 1:1.5 or 1:2 Risk/Reward (by looking at momentum) and trail the SL. *Exit remaining with trailing Stop loss. *SECURING THE TRADE AND PROTECTING...
Btc is in a upward channel righr now. This is a retracement after the bear rally. A breakdown of this channel can continue the downfall further upto 32k.