Nifty Post data Analysis... Time for me to be cautious
Its a time to be little cautious:
Candles in black box are showing early signs of distribution. But distribution will be confirmed factually only after it starts breaking supports.
So, I will avoid being assumptive bearish or bullish for the time being.
Trading bullish will be a lot of waiting now, as best way is to skip one up leg and allow it to blow of some résistance and on retracement I will consider to enter long.
Trading bearish will be to wait for supports to be broken and then at some good liquid resistance I will try to attempt shorts.
Candles in black box are showing early signs of distribution. But distribution will be confirmed factually only after it starts breaking supports.
So, I will avoid being assumptive bearish or bullish for the time being.
Trading bullish will be a lot of waiting now, as best way is to skip one up leg and allow it to blow of some résistance and on retracement I will consider to enter long.
Trading bearish will be to wait for supports to be broken and then at some good liquid resistance I will try to attempt shorts.
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