The different angle of Bajaj Auto:
Updated
Tail doesn't always mean that the price will reverse.If the second candle is long down from the tail it means that price will move down.
The less time price spends at a certain price level, the more effective that price level will be in providing support or resistance for future price action.
The market gives value to certain price areas.
See daily chart the price is rotating it is in the value area.
On weekly chart its support is still too far It will take a lot of time to reach its support. The control price is basically a pivotal support and resistance level inside the value area.
The less time price spends at a certain price level, the more effective that price level will be in providing support or resistance for future price action.
The market gives value to certain price areas.
See daily chart the price is rotating it is in the value area.
On weekly chart its support is still too far It will take a lot of time to reach its support. The control price is basically a pivotal support and resistance level inside the value area.
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