The long position taken at 5440 was promptly discarded by markets and s/l below 5440 was hit after an hr.Today was an allout downtrend day.
As the Positional trade s/l of closing above 5475 was hit on Monday,5440 level was treated as SAR since,the break of 5440 triggered the SAR today.
It is to be seen that the trade of closing above 5475 was a whipsaw or this trade taken at close below 5440 proves to be a whipsaw in shortterm. Initial Target is 5350 now and 5440 to be treated as SAR.
1 comment:
yes RV, it was a total down gradient day. so may have pulled down.
will have our hands stretched to 5350 - 5440
:)
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