traderreborn14

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

NSE:NIFTY   Nifty 50 Index
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.
Comment: 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.
Comment: 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.
Comment: H&S pattern invalid as Nifty made a new high.

Now we have to change our perception as per Market.
Trade closed: stop reached

Comments

Not agreed with your idea
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traderreborn14 ashvikasyadav
@ashvikasyadav No problem......you can
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good reserch
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traderreborn14 sainrkha1999
@sainrkha1999, Thanks.
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