Dealing with 4-chart "extensively research" at Reliance price...
Volume vs. Price Action:
Points to be focus on:
- Gap (run away type)
- Invalid Doji (from the left to right Doji is invalid because of low volume compare to previous candle)
- sequence of tails (sign of existence negativeness)
- Interruption began to push price upward.
Red Alert : sellers will take action on the Red Alert zone 1542 to 1490, and price will T1 as target.
Fibonacci Retracement:
confluence zone 1353 to 1329 target
next target 1250 nearby if sellers will continue.
Wave analysis theory (unconfirmed):
Parallel Channel and Project:
T1 -1375 to 1380
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.