1. FOR WHOM AND MY METHOD IS A LITTLE NEW OR BLURRY . I WILL SOON PUT UP AN EDUCATIONAL POST WITH DETAILS AND EXAMPLES. WE CAN HAVE A SERIES OF DISCUSSIONS THERE TOO. DO FOLLOW MY ACCOUNT TO GET NOTIFIED.
2. Do ask your questions in the comments if any.
Using one can identify probable accumulation or distribution regions by comparing the historical at Price and current at Price.
2. If the current is low, its mostly a pause before the trend resumes
3. If the current is higher or equivalent to historical levels then either the trend will resume or it may reverse. If it resumes then we have more strength in trend due to more accumulation. So a breakout/breakdown will confirm in this case
POC-: The red line in is called Point of Control. This is the level where max of transactions have taken place.
1. Triangular Breakout and then resistance at 884 level.
2. But the recent is comparable to the historical that accumulated before the long rally happened. This time its highest.
3. I would bet another round of accumulation is happening. So breakout above 884 level will confirm the accumulation and long position can be taken
Confirmatory breakout above 884 level.
Since the expected rally could be as big as previous one since the accumulation is highest in the current region so we aim for at least 100% Fib Ext Level- 1270.
784 was a short-term . So somewhere below 784 would be a good stop-loss. Keep trailing stop-loss
Since the target is above all time high. Its a provisional target level. So it doesn't make sense to exit at target rather hold on to it as much as possible and keep conservatively trailing stop-loss. Following can be used as exit signals or bearishness signals.
1. If there is pattern in 1D timeframe, stop-loss can be trailed to a nearby .(Like Candle Low)
2. If there is Divergence in 1D timeframe, better to exit at close of 1D since afterwards there can be long consolidation or reversal.
3. If the trailing stop-loss is hit, please exit
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