Parallel channel with gravitation on the weekly chart-:
If you see the price between line (b) and (c), you will note that price is trading longer time into this area. Presently, the stock price is the (d) or value low which is support.
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confluence zone m1 and m2 is the support from fib retracement.
If you see the price between line (b) and (c), you will note that price is trading longer time into this area. Presently, the stock price is the (d) or value low which is support.
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confluence zone m1 and m2 is the support from fib retracement.
- m1 1207 (currently price trading)
- m2 1114 which is at 50% division
Trade closed: target reached
Booked profit.
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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.