According to the index price movement, there is a formation of a rising flag, which might be a potential reversal hence a bearish momentum.
Also, there is a bearish dragonfly doji candle according to the higher timeframes (1D), which might be a potential bearish reversal in the price.
My entry point is at 15950 after the price has retested the support zone of the flag. SL at 16200, just above the resistance zone. Take Profit at 15200, with a R: R of 1:3.
Note, that risk is only 1% of your account.
Also, there is a bearish dragonfly doji candle according to the higher timeframes (1D), which might be a potential bearish reversal in the price.
My entry point is at 15950 after the price has retested the support zone of the flag. SL at 16200, just above the resistance zone. Take Profit at 15200, with a R: R of 1:3.
Note, that risk is only 1% of your account.
Trade active:
It is active
Trade active:
It is time to move the SL above the entry point so that we break even in case there is a potential bullish run.
Trade active:
Re-entered the trade at the same place.