Hi bother. On 21st May it has formed a red candle. Can you tell me is it a fake breakout or it will go on 24th May. Thank you for your efforts.
UnknownUnicorn18186314
⋅
@federalMagpie90736, we cannot call it fake breakout.. because after a breakout it’s retracing on its previous resistance which turn to support now…closing below 62.95 can be considered fake breakout
federalMagpie90736
⋅
@ssc020496, Ok.. I am little worried, because I bought 2000 Shares at 71.4. Now it got reversed after my entry. Thank you for your reply. Hope it will be bullish this week.
Thank you for the reply and efforts.
UnknownUnicorn18186314
⋅
@federalMagpie90736, Yeah above 62.5 is good support zone…
Hope you have bought the quantities with risk management.
Always one should initiate a trade with defined stop loss and capital risked for that trade and buy accordingly the quantities.