Chart type - Heikin Ashi
Time frame - Weekly
Indicators Used:
1. Moving Averages
2. Fibonacci Retracement: Marked by Swing Low of 503 and Swing High of 597
Analysis Notes:
1. The price has successfully tested the retracement level of 50% which is at 548. Now the price has given the breakout of its retracement level of 38.20%.
2. The moving averages didn't breakdown the retracement level of 38.20%.
3. A green HA candle momentum candle also gives a closing above the moving averages.
Resistance - 573.70 (23.60% retracement level)
Price Prediction: If the price holds the levels of 575 then it will test the levels of 600
Note: Daily chart works best for entry and exit in positional trades.
Disclaimer: This is my pre market analysis and my trading journal. Not a suggestion to buy or sell. The material here is purely for educational purposes.
Thanks
Sardar Simranjit Singh Virdi
Time frame - Weekly
Indicators Used:
1. Moving Averages
2. Fibonacci Retracement: Marked by Swing Low of 503 and Swing High of 597
Analysis Notes:
1. The price has successfully tested the retracement level of 50% which is at 548. Now the price has given the breakout of its retracement level of 38.20%.
2. The moving averages didn't breakdown the retracement level of 38.20%.
3. A green HA candle momentum candle also gives a closing above the moving averages.
Resistance - 573.70 (23.60% retracement level)
Price Prediction: If the price holds the levels of 575 then it will test the levels of 600
Note: Daily chart works best for entry and exit in positional trades.
Disclaimer: This is my pre market analysis and my trading journal. Not a suggestion to buy or sell. The material here is purely for educational purposes.
Thanks
Sardar Simranjit Singh Virdi
Related publications
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.
Related publications
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.