Sir, how can we possibly know if it is a shakeout or a fall, or the beginning of a fall, in real time? Only after the up move to the previous range, it is called a shakeout. Volume does not help either, with volume on the fall day is more than the previous days. How can we know that the price may come back when both the price and volume are significant?
I am sure you must have seen this many times, what can be done? Cut position if in loss even if SL is not yet hit, book partial profits if in profit, or stay put to see what happens the next day? Or check the news and see if the news justifies the fall?
And do you monitor your trades in real time, or keep alerts for price drops, or do you trail the profits and update the SLs?
Thank you.
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