Here are few lessons from the chart of a pharmacy company called Auropharma. Please refer 5-minute chart below. I have marked the price open in the chart. Take note that the price opened near the confluence of a resistance and pivot 'R2' near 709. This area has been acting as stiff resistance for the past two sessions.
Now the second candle asserts the bearish strength. Price gave a pullback short opportunity just below 'p' near the midpoint of second bearish candle. That was it. I didn't notice this. I am writing this in hindsight. Price kept inching lower sluggishly.
Price reached ‘701’ support area. An interesting thing happened. Price tried bouncing off the support. RSI made an oversized rise to that small bounce. In that process, NR was set up in RSI. Professionals smashed the stops of novices that were below pivot 's1' to move further lower. The strong bearish candle shows the play of professionals. Price reached current weekly pivot 'P' finally.