Infy - Consolidation
Updated
Price is inbetween support & resistance. Usually when we see a triangle pattern price consolidation, we expect a break out, some times fail to notice the near by support/resistance.
Support zone is 1400 - 1410. Resistance zone is 1440 - 1450. At what level you have the advantage as a buyer? support zone. At what level you have advantage as a seller? Resistance zone. Can you buy or sell at the support/resistance ? No, after getting the confirmation only we can initiate the trade.
This is the analysis & the trading opportunities will be updated in live market. You can share your trading plan in comment section.
Support zone is 1400 - 1410. Resistance zone is 1440 - 1450. At what level you have the advantage as a buyer? support zone. At what level you have advantage as a seller? Resistance zone. Can you buy or sell at the support/resistance ? No, after getting the confirmation only we can initiate the trade.
This is the analysis & the trading opportunities will be updated in live market. You can share your trading plan in comment section.
Note
Price opened above resistance. Sustaining 1458 - 1464 will make the price to move to 1472,1480 & 1488.Note
Infy 1472 done.Note
Infy 1480 done.Note
Price action moved as per this strategy.
Note
1488 done. From here trial for 1494,1498.Trade closed: target reached
This is an example for analysis and adapting live market movement with a trading plan with strategy.Note
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