Hello & welcome to this analysis
On the eve of FOMC meet, the index has today covered the gap down made on July 11th and entered the potential reversal zone (PRZ) 25350 - 25425 of two bearish harmonic patterns - Butterfly (15m) & Gartley (daily).
Reversal confirmation as of now is once it starts giving a 60m close below 25225.
Pattern gets negated above 25525.
All the best
Regards
On the eve of FOMC meet, the index has today covered the gap down made on July 11th and entered the potential reversal zone (PRZ) 25350 - 25425 of two bearish harmonic patterns - Butterfly (15m) & Gartley (daily).
Reversal confirmation as of now is once it starts giving a 60m close below 25225.
Pattern gets negated above 25525.
All the best
Regards
Trade active
Minimum expected pullback is done from this Gartley pattern. More weakness below 24950Trade closed: target reached
Nifty has done its expected 62 Fibonacci retracement of the SEPT rally. It has now entered the PRZ of a bullish Reciprocal ABCD pattern. Short covering above 24925 spot (as of now)
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Online courses on Harmonic Trading Patterns, Ichimoku & Trading Psychology Risk Management
t.co/3mGWp29Xkb
t.co/3mGWp29Xkb
Related publications
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.