MAHINDCIE - Stong Resistance Zone (Since 2015) has been broken

Description

⋅ Oct 10, 2022 7:39 PM

Bull dominance is still required to avoid a false breakout even though Strong Resistance Zone (since 2015) has been broken. If bulls are unable to push the price further higher, the breakout could be fake.

Comment

⋅ Dec 1, 2022 6:58 AM

As we predicted, bull dominance is necessary, and bulls must push prices higher side to prevent false breakouts. However, as we can see, they failed to do so, and we saw false breakouts.
THIS IS VERY FOOD EXAMPLE OF FALSE BREAKOUT

Comment

⋅ Dec 2, 2022 4:24 PM

*Good Example

Comments

rajeshsomasundaram18

⋅ Dec 18, 2022 6:10 PM

Now it seems like the retest and breakout is happening with the decent volume as well.
Could you check the same please?

AfnanTAjuddin

⋅ Dec 19, 2022 6:01 AM

@rajeshsomasundaram18, you are correct.

b9nk6

⋅ Oct 12, 2022 6:15 AM

I think your lookout is current