I keep on practicing my intraday skills with the old chart. This is one mistake I did and wanted to share with you. First, let me tell you how I took this move. around 11:30 I started noticing Lilliput candle. I was expecting one volcanic eruption. At 12:05 long candle came, I become alert, a bull move started. A small retracement up to 50MA chart. I waited till it again started the bull move. At the entry point, the bull move was confirmed as it crossed the last high. but after two candles it started to go down. As the first red candle wiped the last green candle and my entry point opening I booked my loss. I could have waited till my entry candle is wiped but I realized my mistake early. Can you guess?
image source: ETmarket
Well, my mistake was I took the bull call in bearish market. As 200 MA was going in the downtrend.
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