DLF (Daily) - Bullish Flag
4th wave seems to be ending, making way for the 5th wave
Stochastic 14,3,3 is in positive crossover
+DI has just gone above the -DI in the Directional Movement Index (DMI) indicating the start of an uptrend
However before going long / buying, wait for the following to become a reality:
(1) Breakout of the resistance line (drawn in red)
(2) RSI to go over 60 and enter the overbought zone
(3) ADX to become uptick (though it is above 15 as of now)
Seems very likely that they will be achieved anytime soon.
Do not take anticipatory trade till you see them happening
Weekly tide is showing a morning star candlestick pattern formation
4th wave seems to be ending, making way for the 5th wave
Stochastic 14,3,3 is in positive crossover
+DI has just gone above the -DI in the Directional Movement Index (DMI) indicating the start of an uptrend
However before going long / buying, wait for the following to become a reality:
(1) Breakout of the resistance line (drawn in red)
(2) RSI to go over 60 and enter the overbought zone
(3) ADX to become uptick (though it is above 15 as of now)
Seems very likely that they will be achieved anytime soon.
Do not take anticipatory trade till you see them happening
Weekly tide is showing a morning star candlestick pattern formation