Sir, I understand that, but I am just trying to understand how and when the trend changes, I didn't take a long in the morning chart I posted, was looking for a good level to add to shorts (as per Fib and RSI).
Even now, looking for opportunity to take a trade after covering shorts at 7040. Market just retraced to important Fib levels twice, one on the upside and one downside, trend might turn.
Retracement 1: HOD and LOD
Retracement 2: Local high and low
These retracements provide good entry and exit points if we can confirm the trend change with some other method. What I asked ST was whether it was a valid structure break as price had moved above the support (turning into resistance) zone.