guys if i went short here in the green circle it was my mistake yes or no and why ?
You had the right idea as it was approaching a S/R level. However, waiting for confirmation on a bounce or a break would have put you in the right direction.
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agree with Matty Money here. you would want to see some sort of confirmation, not just blindly jumping in at level
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Hi ziki,
From what I can see, yes it was a mistake. You’ve drawn a random line in. It should have atleast 2 touches from price to tell you it’s a level worth looking at. As explained above you need to wait for confirmation using other methods eg candlestick patterns or price action. Lastly, you missed the obvious consolidation at 7000 just before your sell entry. When it broke out, you couldve changed your whole bias to a buy trade.
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Well; I see the recent bullish momentum is so high & it’s not the major resistant level; so I am not interested to open a sell trade here!
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There is no mistake in going short or Long, as no trader can be 100% sure. The trend was bulish and your trade was a resistance área, so It could have gone either way.
It would only be a mistake if you did not apply a solid risk management… it is just a single trade so hope you set a proper stop loss and did not loose a Big percentage of your account. Just Accept the loss and start searching for the Next trade.
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The mere fact that it was a losing position doesn’t mean you made a mistake.
If you want to know was it a mistake or not you should explain the reasons why you’ve decided to short there.
If a lot of factors are supporting that trade but it turns out to be a loser… well, this is what market is 
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Short-term trading refers to the fast-forward and fast-out trading strategy. The holding period is usually from 1 day to 2 weeks. Short-term trading is relatively controllable for risks and returns. It is the most popular and simplest form of trading.
For short-term trading, you must understand three very important tips before placing an order:
1.Fluctuation interval: Analyze the fluctuation range of the market within the day or even two weeks to determine whether it can enter the market.
2.Probability:Analysis of the probability of market ups and downs
- Trend: Confirm what state the market is in, rise, fall or cycle consolidation.
Combine the rise and fall probability and trend analysis to determine the direction of the transaction.
Hope this is helpful for you.
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Interesting chart, which shows you were perhaps thinking to enter on a pullback in a downtrend ?
That too is a valid critique imo. and it does look (with hndsight) as tho’ that “consolidation” represents accumulation.
Note also the “Double Bottom” at the lows of the chart.
However sometimes if we take a look at the longer timeframes, the picture can change somewhat ;
See now that the lower low in what appears to be a downtrend on your chart - now looks more like a bounce off fairly strong support ?
A retest of that support does look like a feasible possibility, wth the last couple of days again being down
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Nice chart; you marked the perfect level! And that’s the power of support/resistant tool.
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