PEAKS & TROUGHS ANALYSIS
We may see many such posts of trend line break , but now the question is how one must plan to trade ??
One may clearly see that daily chat has breached previous swing low and successfully made a lower low, now this is NOT appropriate time to go for FRESH SHORT for positional trader .
HOW to Trade ??
1. On Weekly and Monthly chart we are near to the swing low of 8282 -8250.
2 So we must wait for reversal pattern .
3. once we are able to get that on daily chart , wait for retracement
4. Near to the retracement level of 50% or 78% from swing low . Iis the right time to go for fresh short.
If any one is holding short, for them 8480 the right stop loss (positional trader )