Saturday, 25 December 2021

Price Action Documentation [24 - 12 - 2021]

Here's a beautiful price action story from Auropharma share. Please refer the 5-minute chart below. The price opened near PDH with a big bearish candle. The second candle indicated the attempt of bulls to take price higher. But Candle 1 marked in the chart failed bulls. There was pullback sell opportunity just below pivot 's1' which I have marked in the chart.

I identified this opportunity well just in time and couldn't execute the trade. I also had planned the target near the confluence shown in the chart formed by 's3', '-p', and 200-MA. Price indeed fell nicely towards the point. I was a bystander. Price offered second opportunity which I have marked in the chart. By this time I was lost in looser thoughts.