The trendline has been broken out, normally after the trendline breaks/ support gets broken, we expect a retracement then change of the trend direection. Same thing here, it did not touch the trendline for retracement but the pinbar candle signals a trend reversal.
Note
My SL got hit, so we got kicked out there. A mistake made was to not follow the trend, executing a trade based on assumptions. Had I been patient enough to observe the markets atleast for the rest of today and make an entry when the retracement has been confirmed, I wouldve had a good time selling. However, if youre seeing this now, then youre safe to sell, I suppose.Note
I think I wouldve been much safer had I set my sell entry where I had indicated my TP. Look at that low there, its a safe entry point. Plus the retracement leg wouldve been done, most likely.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.