Updated
AMARAJABAT : Fibonacci Study
*Only for study purpose. Consult financial advisor before taking trading decisions*
After falling from high of 831.5 to low of 750.75,
There was a retracement to .618(800) level before falling below 750.75,
After the fall, we can now see a consolidation at .618(700)
If the price falls below 700 by closing basis, it may go down to 687,
Or else it may bounce back up, where a close above 710 can be buy signal.
The RSI also indicates an upward movement.
After falling from high of 831.5 to low of 750.75,
There was a retracement to .618(800) level before falling below 750.75,
After the fall, we can now see a consolidation at .618(700)
If the price falls below 700 by closing basis, it may go down to 687,
Or else it may bounce back up, where a close above 710 can be buy signal.
The RSI also indicates an upward movement.
Note
Target 687 reached,Now we are looking at huge downside break
Note
For intraday there is the posiibility of retracement to vwap, looking at target of 692.5Trade closed: target reached
Attempt to climb back up failed.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.