Bearish Engulfing – HDFCBANK

[Muthu Kumaran]

Symbol : HDFCBANK

Direction : Short

Entry : 1016.8

Stop Loss : 1039

Target : 994.6

 

[Halima.S]

we will be able to understand and appreciate it much better, if price scale is available in your image.

[EQSIS]

The Entry to consider short position is only Below 1011, But it fails to witness the follow up selling hence this short position was not created…..

 

[Muthu Kumaran]

@ EQSIS, Yes the entry is wrong, should be below the low of the engulfed candle (1011). This is failed bearish engulfing.

@ Halima, I will try and mark the prices in the image. Thanks for your feed back

[EQSIS]

Sir the failed bearish engulfing is the one which has given entry but triggered stoploss, but in the above case it is not even matured (Not went below the Low) properly…

 

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