Sir,
After the combo (in Nifty) was triggered and then a candle of the evolving buy setup (which was interrupted at 8) closed below TDST support, now the original setup can't serve as basis for sequential countdown (forming secondary top), as that is recycled?
Got a bit worked up... Is the above correct, I shouldn't have counted based on that setup, no?
Explanation
If you see the chart, the first set up is larger than the second set up so it is a valid operative set up .....if second set up was larger we would have said that the first set up recycled..but this is not the case.
The first set up gave us our combo 13 signal...it is still a valid set up as we closed below the TDST of the second set up ( and not closed below TDST of the first set up) and also the buy set up ( set up in opposite direction is not completed ( it failed on the last bar) ...so the first set up is still valid and sequential can give a sell signal on the second or subsequent top and the downmove starts again.....
So hold on to shorts...that is what charts indicate....what the market does we have no control on that.
An alert trader would have covered shorts on failure of buy set up to complete and market closing above the TDST level....but now at higher level, one can re-enter in short trade.
Smart_trade
