Reliance
Date 11.08.2024
Reliance - For swing trade
Timeframe : Day chart
Remarks :
1 For long side, wait for price/candle to close above the mid-term trendline.
2 It is also important to see fibonacci levels. When price is above 50% or 61% & also above support trendline will be called stable bullish.
3 One can also apply 50,100 & 200 ema on day chart. And use fibonacci & ema crossover for both bullish & bearish signal to enter either side trade.
4 The mid-term support trendline will also act as resistance until n unless price is making higher highs but is closing below or trading below it.
Regards,
Ankur
Reliance - For swing trade
Timeframe : Day chart
Remarks :
1 For long side, wait for price/candle to close above the mid-term trendline.
2 It is also important to see fibonacci levels. When price is above 50% or 61% & also above support trendline will be called stable bullish.
3 One can also apply 50,100 & 200 ema on day chart. And use fibonacci & ema crossover for both bullish & bearish signal to enter either side trade.
4 The mid-term support trendline will also act as resistance until n unless price is making higher highs but is closing below or trading below it.
Regards,
Ankur
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