IEX
1. Major Support- 641.
Major Resistance - 950.
2. Past Trend - Up, 3 legged correction.
3. Current Strength - In up as broke previous high of 749.7.
4. Future Trend - This is an uptrend and we are seeing these down moves as part of correction.
We look for signs of strength shift to up to buy in an uptrend.
Break above 760 will mean 2 things-
a. First it broke previous swing high 749.7.
b. Failed to go lower like previous down moves.
Means buyers have become stronger than sellers.
So i will be looking to buy above 760 with stop below previous candle.
1. Major Support- 641.
Major Resistance - 950.
2. Past Trend - Up, 3 legged correction.
3. Current Strength - In up as broke previous high of 749.7.
4. Future Trend - This is an uptrend and we are seeing these down moves as part of correction.
We look for signs of strength shift to up to buy in an uptrend.
Break above 760 will mean 2 things-
a. First it broke previous swing high 749.7.
b. Failed to go lower like previous down moves.
Means buyers have become stronger than sellers.
So i will be looking to buy above 760 with stop below previous candle.
Trade active:
Already tested 770.
Trade closed: target reached:
Tested 785.8.
