Might be a false breakout..
You should wait until it bounces on the upper trend line, making a new low, and only then enter for a long. not a second before that.
ravi_with_trader_hat
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I agree. we should wait for a new low for confirmation, but not always it makes a new low before it takes off. More over other Indicators like Volume, MFI showing strength so I thought it might be a good time. Yesterday's down move was on a low volume, so I am hoping it to recover soon when the Index starts moving upside.
ravi_with_trader_hat
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That was a good call. Luckily I had lot of shorts. Thanks.
Eran_7
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Glad to hear that. Discipline is the only way to succeed in the market world.
Cheers and good luck!
You should wait until it bounces on the upper trend line, making a new low, and only then enter for a long. not a second before that.