1. Bounced off daily demand zone in December 2. Change in market structure 3. Overhead resistance from 200MA cluster 4. Inside bar pattern formation 5. Currently sitting at 0.618 Fibonacci level of the last swing
Disclaimer: This is NOT investment advice. This post is meant for learning purposes only. Invest your capital at your own risk.
Happy learning. Cheers! Rajat Kumar Singh (@johntradingwick) NSE Certified Technical & Fundamental Analyst
@meet2018, An “inside bar” pattern is a two-bar pattern in which the inside bar is smaller and within the body of the previous candle. In the chart above, you can the candle formed on 20 January is formed within the body of the candle formed on 19 January. You can read more about it on Google.