1. The price has been moving in a bearish market structure since 25 October.
2. It's pretty clear from the chart that the volatility has been compressing. The swings have become smaller in length.
3. The price has been facing continuous selling pressure and has swept below all the recent lows.
4. Currently, the price is sitting at a demand zone/order block.
5. From here on, I am only interested in 2 paths. Either the price rallies back up and break above the previous high. Or we sweep below the low below the order block @37458 and move back up.
Disclaimer: This is NOT investment advice. This chart is meant for learning purposes only. Invest your capital at your own risk.
Rajat Kumar Singh (@johntradingwick)
NSE Certified Technical & Fundamental Analyst
2. It's pretty clear from the chart that the volatility has been compressing. The swings have become smaller in length.
3. The price has been facing continuous selling pressure and has swept below all the recent lows.
4. Currently, the price is sitting at a demand zone/order block.
5. From here on, I am only interested in 2 paths. Either the price rallies back up and break above the previous high. Or we sweep below the low below the order block @37458 and move back up.
Disclaimer: This is NOT investment advice. This chart is meant for learning purposes only. Invest your capital at your own risk.
Rajat Kumar Singh (@johntradingwick)
NSE Certified Technical & Fundamental Analyst
Comment:
Idea negated. 🛑
Rajat Kumar Singh,
B.Tech (Delhi Technological University)
Community Manager (IN), TradingView
✅ Telegram: t.me/johntradingwick
✅ Blog: tradingwick.in/
✅ Rounding Top pattern: tradingwick.in/chart-patterns/rounding-top
B.Tech (Delhi Technological University)
Community Manager (IN), TradingView
✅ Telegram: t.me/johntradingwick
✅ Blog: tradingwick.in/
✅ Rounding Top pattern: tradingwick.in/chart-patterns/rounding-top
