Nifty H&S formation. Will it continue the downfall?

Nov 25, 2020

Yesterday night I drew the formation on the chart but was waiting for market to confirm.

Today it confirmed it by completing the right shoulder.

If the neckline of this formation is broken, then expect more downfall.

Play Safe & Happy Trade.

Note: Views only for educational purpose. Consult your financial advisor for any trade.

Nov 26, 2020

Note

Market tried to break neckline in first 4 hrs but it reversed and hence it went up again.

No bear until the neckline is broken comfortably in 4h or daily timeframe.

Dec 1, 2020

Note

Wait for the top trendline to break.

If it break then H & S pattern will be invalid and we can start a bull position from their.

Dec 3, 2020

Note

H&S pattern invalid as Nifty made a new high.

Now we have to change our perception as per Market.

Dec 3, 2020

Trade closed: stop reached