Looking at the nifty on Monday sellers are in charge, on Tuesday the buyers are in charge. Nifty is stuck in the range of Monday and formed an inside bar. Monday open 24942 is where the price is getting again and again and bounces back up or down.
>> I have gone back to 2020 and seen than there is close to 29 incidence where Tuesday is an inside bar.
Price making a higher close on Wednesday is 31% chance.
Price making a lower close on Wednesday is 17% chance.
Price making a close inside Tuesday Range is 51% chance.
ATR on 39 period is 213 okay.
>>>If price moves up than the expected mean range is 213, 24980+ 213 = 25193, but in above we have a monthly 50% fib region + a monthly high of May at 25116, also 25000 as a big number.
>>>If price make a low than expected range is 213, 24980-213 = 24767 as a range. It has 24790 as a week 1.62% region acting as some sort of resistance plus gap 50% fib level.
So next day full prep.
>> I have gone back to 2020 and seen than there is close to 29 incidence where Tuesday is an inside bar.
Price making a higher close on Wednesday is 31% chance.
Price making a lower close on Wednesday is 17% chance.
Price making a close inside Tuesday Range is 51% chance.
ATR on 39 period is 213 okay.
>>>If price moves up than the expected mean range is 213, 24980+ 213 = 25193, but in above we have a monthly 50% fib region + a monthly high of May at 25116, also 25000 as a big number.
>>>If price make a low than expected range is 213, 24980-213 = 24767 as a range. It has 24790 as a week 1.62% region acting as some sort of resistance plus gap 50% fib level.
So next day full prep.
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.
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.