"Gap down possible" - SBIN
Updated
Hello everyone,
I am sharing SBIN chart on day time frame.
I am using harmonics pattern XABCD and connecting all recent swings, as marked on chart.
It is perfectly at Point D (596.85-596.95), with fib ratio 1.13.
Just for knowledge...in a XABCD pattern, D point is considered as Price Reversal Zone (PRZ).
And some fibo ratios is very very strong, in case of SBIN its 1.13.
Well let's see where it opens on Monday...only chance of upside is if it opens gap up (above point D) and sustain.
Else a slight gap down or even flat opening can lead to a sell off from this point.
Keep learning guys.
Have a nice weekend.
I am sharing SBIN chart on day time frame.
I am using harmonics pattern XABCD and connecting all recent swings, as marked on chart.
It is perfectly at Point D (596.85-596.95), with fib ratio 1.13.
Just for knowledge...in a XABCD pattern, D point is considered as Price Reversal Zone (PRZ).
And some fibo ratios is very very strong, in case of SBIN its 1.13.
Well let's see where it opens on Monday...only chance of upside is if it opens gap up (above point D) and sustain.
Else a slight gap down or even flat opening can lead to a sell off from this point.
Keep learning guys.
Have a nice weekend.
Order cancelled
Guys resubmitting the chart of SBIN.I have drawn wrong on chart but in description I have written correct.
The point D should be at 1.13 which is correct,
But in charts I have drawn it at 1.3
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.