Bearish Reversal trade explained (BANK NIFTY)
Please do Refer Smaller Time frames for Better Understanding. (1 or 3 Min charts)
After a bullish move, created a support and failed to form Higher high and created a neckline.
@ 12:11 PM Broke down the neckline.(we'll enter only after retest)
@ 12:24 to 12:26 PM, Formed a bullish Candles trapping the retail traders, and this candles didn't break the neckline,
instead took a resistance.
Here comes our chance to enter for a short position at rejection.
After a bullish move, created a support and failed to form Higher high and created a neckline.
@ 12:11 PM Broke down the neckline.(we'll enter only after retest)
@ 12:24 to 12:26 PM, Formed a bullish Candles trapping the retail traders, and this candles didn't break the neckline,
instead took a resistance.
Here comes our chance to enter for a short position at rejection.