Trade strategy when support is breached

A similar pattern is observed in below 3 charts (there are many such charts, 3 just for example) where in a downtrend the price breached support and made a candle (it can be green or red) with long lower wick and close near open.

Such pattern indicates an entry point for a short term trade only on buy side

Do note that for such a trade, breach of resistance is important as well as the price must be in downtrend. The 3 charts present here are on a time frame of 10 minutes. Another thing to note is upper wick will be smaller than the lower one or there will no upper wick and the close will be equal to high

Happy trading :slight_smile:

Nifty 1000 support

Niite tech

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Yes, Reversal Pinbars near or around the daily pivot, Resistance and Supports are very useful for Intraday traders.

I usually follow this reversal bottom patterns on 15 min charts to catch those up moves that happen at the later part of the day.

Such patterns between 10AM to 11.30AM gives sufficient time to enter long positions with low of the day as stop loss and letting the trade run to the upside for the rest of the day.

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Is there any scanner for this pin bar

Maybe it is possible with amibroker.