5741 Probability of M formation or bearish flag
Reason for Short below Yesterday low
a) bear flag formation validates if breaks yesterday low with volume otherwise possibility of Double top at yesterdays high
b) Any reversal sign at 16200 with pin par closing in 1 hr indicates the reversal at 50% retracement for 0.5% target in 2 days.
a) bear flag formation validates if breaks yesterday low with volume otherwise possibility of Double top at yesterdays high
b) Any reversal sign at 16200 with pin par closing in 1 hr indicates the reversal at 50% retracement for 0.5% target in 2 days.
Order cancelled
No sign of bearish pattern. Hence bullish may continue for another 2 days.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.