The phenomenon of trendline rejection is a common occurrence in technical analysis. It refers to the situation where a price trend, as indicated by a trendline, fails to continue in the anticipated direction. This can happen multiple times.
The price action of the asset has exhibited a breakout above the trendline, followed by a subsequent retest of the breakout level. This indicates a potential bullish momentum and suggests that the asset may be poised for an upward movement.
Based on wave analysis, the current state of the market indicates that it is currently in the fifth wave of the first wave.
The level of invalidation is also displayed.
I am not a registered Sebi analyst. My studies are purely for educational purposes.
Before trading or investing, please consult with your financial advisor. I am not accountable for your profits or losses in any way.
Thanks
VJ
The price action of the asset has exhibited a breakout above the trendline, followed by a subsequent retest of the breakout level. This indicates a potential bullish momentum and suggests that the asset may be poised for an upward movement.
Based on wave analysis, the current state of the market indicates that it is currently in the fifth wave of the first wave.
The level of invalidation is also displayed.
I am not a registered Sebi analyst. My studies are purely for educational purposes.
Before trading or investing, please consult with your financial advisor. I am not accountable for your profits or losses in any way.
Thanks
VJ
Trade active:
Up more than 6%
Trade active:
The price of the stock is expected to make a significant move towards its target.
Trade active:
Crossed 48 (near target)
Trade closed: target reached:
Target Reached