Nifty 7 July 2020
Nifty Trap Zone 2 - Momentum Impulse Pattern formation
...
Major Resistance Broken by RALLY BASE RALLY ==> BREAK LIMIT ZONE
Minor Resistance created by the Engulf 1. --> followed by DROP BASE RALLY --> creating MOMENTUM IMPULSE PATTERN
Expecting Engulf 2 . to be formed which will be followed by formation of new Resistance ...
MONTHLY LONG ENTRY can be taken when prices touches MIP.
high point of engulf 2 expecting to be 10584
...
Major Resistance Broken by RALLY BASE RALLY ==> BREAK LIMIT ZONE
Minor Resistance created by the Engulf 1. --> followed by DROP BASE RALLY --> creating MOMENTUM IMPULSE PATTERN
Expecting Engulf 2 . to be formed which will be followed by formation of new Resistance ...
MONTHLY LONG ENTRY can be taken when prices touches MIP.
high point of engulf 2 expecting to be 10584
Trade active
high point of engulf 2 has to be above red zone by atleast 30-50 pointsNote
Now 10763 has been touched overall good engulf done .. now expecting the market to come down .. fill this gap created in 10600 region and 10400 region ---> touch the MIP zone then go back up for long positonNote
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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.