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SHORT AT THE BREAK OF THE RED LINE WITH A SL OF 1660, REVISE TARGETS AS PER CANDLE STICK ANALYSIS
sir, mention what is the target that you are suggesting. Your chart looks neat and nice, can you tell me what is the tool that you are using.
I feel short position can be created at 1400, with the stop loss at 1700 and target at 1100.
Mam,
can you please explain how/ why we could have created a short at 1400 ?i had a very short holding period in mind when i analysed this chart, to be frank now i think this chart might not be the best for double top, but it fits the description of a double top , ie reversal pattern
my conviction was that once the stock broke 1200’s levels( which was an area of support with good volumes during sept15) , the buyers who were present in those levers ran out of purchasing power during Jan-Feb 16,( so sellers dominated), if you notice 1200’s level was a very crucial, and volumes spiked when the stock came back to test those price levels ( volume spikes = increase in interest/participation), so at that point of time i wanted to short the stock. then i wanted to use EOD CANDLE STICK ANALYSIS to time my entry.
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