Chart patterns poise way for the above titled opinion
Reasons
1. SIEMENS travelling in a Ascending channel (From 2019)(Bright red & green lines shown in chart).
2. Now, it seems ready for the downswing (white trendline descending channel shown in chart) inside the Ascending channel.
3. Rounding top too confirming the chances of down move.
4. GAP b/w 6th & 7th December is acting as Support.
Entry can be made after the yellow trendline gets broken.(Keeping the high of the breakdown candle as SL)
FIB 0.5 can act as support in downside(1st target)- 2645
Safe SL mentioned @ chart.(IF WE ENTER NOW)
Let's wait & watch how it moves!!!!
Note- Just Sharing my view...not a tip nor advice!!!
Reasons
1. SIEMENS travelling in a Ascending channel (From 2019)(Bright red & green lines shown in chart).
2. Now, it seems ready for the downswing (white trendline descending channel shown in chart) inside the Ascending channel.
3. Rounding top too confirming the chances of down move.
4. GAP b/w 6th & 7th December is acting as Support.
Entry can be made after the yellow trendline gets broken.(Keeping the high of the breakdown candle as SL)
FIB 0.5 can act as support in downside(1st target)- 2645
Safe SL mentioned @ chart.(IF WE ENTER NOW)
Let's wait & watch how it moves!!!!
Note- Just Sharing my view...not a tip nor advice!!!
Order cancelled:
We have to wait some more time.
As long as it is in white descending channel, it is the bears show!!!
As long as it is in white descending channel, it is the bears show!!!