A higher low at these levels means lesser losses to the exiting long position and getting filled close to value zone for the next short trade. Hourly chart is trending, but this sudden change of direction if continued without renewed weakness of turning bullish will render the charts into the non-trending zone. Breach of low or good recovery should happen in the next few hours.
Stop loss for new short trade moves down to 5096.25 spot reducing risk to a considerable extent. Traders please give more importance to money management in these turbulent times. Adhere strict stop los regime and low risk on trades. Full exposure on leverage will put your accounts into strong reactions leading to wipeouts when markets are volatile like we have now.
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