1. MARKET is clearly UPTREND 2. 50%FIB acting as now SUPPORT which was previously a RESISTANCE 3. SIGNALS formed at 50%FIB (SUPPORT):- (i) PINBAR:-at the TROUGH of LEFT SHOULDER(confirmed by 21MA cross) (ii) BULL.HARAMI :- at the TROUGH of RIGHT SHOULDER(confirmed by 21MA cross)
WHAT NEXT? INVERSE HEAD & SHOULDER has allready given BREAKOUT @ NECKLINE. INVERSE HEAD & SHOULDER upon completion, signals a BULL MARKET. TRADERS typically ENTER into a LONG POSITION when the price rises above the RESISTANCE of the NECKLINE. So either we can enter the trade with appropiate STOP LOSS or can enter after RETEST. TARGET :- 160POINTS
NOTE:-SIGNALS like PINBAR/HARAMI/ENGULFING at 50/60%FIB or S/R level or S/D or MA cross increases probability of our trade.