FORTIS
1. On WEEKLY/DAILY time frame it is clearly an UPTREND
2. Currently its in RETRACEMENT MOVE.
3. RETRACEMENT MOVE got rejected at 61% FIB
4. At 61% FIB :- Previous RESISTANCE becomes SUPPORT
5. Aslo BULLISH PENANT pattern can be observed
Thus a breakout either of PEANANT PATTERN or 51%FIB or takings SUPPORT either at 50%FIB or 61%FIB would be a good sign of going LONG.
[NOTE:- Signal like PINBAR/BULL.HARAMI/BULL.ENG at this level i.e 50% or 61% FIB would increase the PROBABILITY of our TRADE]
2. Currently its in RETRACEMENT MOVE.
3. RETRACEMENT MOVE got rejected at 61% FIB
4. At 61% FIB :- Previous RESISTANCE becomes SUPPORT
5. Aslo BULLISH PENANT pattern can be observed
Thus a breakout either of PEANANT PATTERN or 51%FIB or takings SUPPORT either at 50%FIB or 61%FIB would be a good sign of going LONG.
[NOTE:- Signal like PINBAR/BULL.HARAMI/BULL.ENG at this level i.e 50% or 61% FIB would increase the PROBABILITY of our TRADE]
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