1. On the 4th of July 2020, I gave the title " IS ITC READY TO MOVE UP OR GOING RANGE BOUND SEE YOURSELF !! and today it is "IS ITC READY TO MOVE DOWN OR RANGE BOUND SEE YOURSELF !!". There is only one thing common that is rangebound in both titles. Why it is so? See in last post point no.4 I wrote is quoting for your consideration " If the price takes out a lower yellow line in a 4-hour time frame and the next day closing is below the previous close then the trend will change to the downside."
. you can see neither price fulfilled the taken-out condition in 4 hr time frame nor in a 1-hour time frame. One thing is quite interesting to know that week the first candle took resistance at redline after a gap down an open second rest of the days' price could not dare to fulfill my taken out condition in both time frames. Can you imagine the accuracy of my levels shown in fig last week post behaved so precisely that five days reacted on these? When we trade, we live in fear of braking levels at any time downside. But here spend five days in a small range. Almost in all my posts, I write why shared levels are so reactive in my all posts and conditions give you a real sight to trade in which direction. When to quit from your trade.
2. In point no.1 I mentioned is quoting for your consideration " The white one and red one dark cloud on the same white resistance. Since I wrote dark]]k cloud is not activated till yet. If the activated price will move down. You can see this pattern not activated and the yellow support line provides the good support and price moved up." You can see the red circle pattern is still not activated after one whole week. Therefore, the price did not fall. What happened has already manifested one week ago. Many and zone are available on the chart but I always use only those which suit the structure of waves. This is the power of education. I try to motivate you all to make charts and this unique language your friend both will elevate the level of understanding charts and earning too.
3. I have seen ideas of many analysts on this stock but missed that sort of consistent accuracy in their analysis and deliverance. Though all are good in their analysis the edge is missing. So Dear followers lift yourself to a consistent level.
Trade Plan For Next Week
1. I market two yellow arrows one at the price section and second at . If you see carefully a message is given that down move is with decreasing . Had it gone for fall the should be in increasing sides. That is the reason the price got a range-bound.
2. Now if this information is correct means what smart money is showing not fake then next session closing should be above the red dotted line. To move up this line is important. That is why I showed a green arrow upside from this area. In this case, the upside target will be the red dotted line.
3. On the contrary, if the price moves down to the lower band that is the last level of which has the potential to resume the uptrend.
4. If the lower band of blue zone is taken out in a 1hour time frame I will be switching my sentiments to the downside with the target of the white line. Setting the last post figure to compare with the current fig so that you could understand my statements better. The rest price will decide.
Disclaimer:- All trading positions should be taken from consulting your financial planner. This study is for educational purposes only.
I have asked my daughter to start learning this skill and hence we are two in the family following you!