1. In the last post on this stock, I mentioned in point no. 2 is quoting for your consideration " now the target is a white zone." . you can see exactly the white zone acted as resistance and target achieved. There you can see a pink circle showing a variation of dark cloud pattern of a . This is activated now as the last trading candle has closed below the pattern's second candle low. If the next day trading candle is closed below the white candle low then the price is expected to go in next week to the blue and red dotted line.
2. Here one more condition applies, which is of a yellow dotted line. This line can act as support for the consolidation of the price for some time. One should keep a stop loss of Friday's candle high and should take short positions. Make sure the position should only be taken when yellow dotted provide some support.
3. On the contrary, if the yellow dotted line is taken out on a 1 hr time frame then the price will travel to the blue and red zone. Those new to my blogs, they must understand taken out condition, only then enter into a trade if that is satisfied. For your understanding quoting my condition " Taken out condition works in the two-time frame combination for daily( 4 hr + 1 day) analysis. Similarly, work for lower time frames is also a two-time frame combination. For intraday trades 1 hr with 15 min. For taken out condition price has to complete in both time frames. Aggressive traders can take that side position in a lower time frame with the stop loss of breached candle low. In both the time frames given line is breached by a candle that candle high is to be breached by next candle and close should be above the previously breached candle. This is how taken out condition is being implemented. "
4. On otherwise If price takes out on 4 hrs time frame the upper pink line then the price will move to a red color upper line. This is how the trade should be going in next week. I always try to make my trades easy-going without stress. The conditions help me to understand moves in the right direction informing me where to enter and exit. So follow conditions strictly. If satisfied then move in that direction if not get out of a trade or do not enter.
5. I have seen many followers who just jump into a trade because conditions satisfied. But that is not the right way to play the market. You need to show patience and find buying or selling set up on a lower time frame then take entry. In this way chances of failing trade get reduced drastically. See my 160+ posts almost in every second post I make you remember to be patient and disciplined. for your understanding chart better, I show you chart below when I suggested going long in this stock. A pink color circle was the time when I recommended and see achieved my white zone target. The rest market will decide.
DISCLAIMER:- All positions should only be taken on the advice of your financial planner. This information is for educational purposes only.