i was taught to short on pcl break…but this is clear uptrend…so when i short it at pcl break and put days high/swing high as stop loss… i m shorting at higher high break so chances are it ll reverse at higher low… my question is it is uptrend … and i m shorting it…my stop loss will get hit ryt
my stop loss can hit ryt…because higher low is not formed…it can reverse from higher low ryt…
See the candle size too.
I will just avoid this seeing the candle size alone. The stop loss is too too high.
But it is also at resistance if you see the whole picture. It is like higher range of sideways trend. Right.
Just book profit quickly in this cases or TSL quickly