sandipan.mch
Education

learning wyckoff methods 2.0- the bearish cypher fail..

BSE:AKSHOPTFBR   AKSH OPTIFIBRE LTD.
there was a sharp retracing from the line of good demand
and close above another line shows SOS..

this bearish cypher most likely will fail to reverse the uptrend and it will test the line above...
i have a feeling this will even cross it, the advance has such a massive volume , if this big spread on the advance is reversed of then the demand is most likely to take the prices above 39 soon and then may be lose steam over there....

This is bulls a their prime...
the wckyoff channel oversold line was violated and there was sharp denial from the bulls, and the close of the candle was back in the channel... if this is not SOS what is then....

the cypher's take profit is -.618CD at 32, which is not happened i gues.. hence the fail... i doubt even if 0.5 can be crossed...
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