SMS PHARMA: Ready a for bounce from Fibonacci Golden Zone!
⚡️Price Analysis:
1️⃣ Price testing crucial fibonacci retracement level.
2️⃣ Strong Dz confluence with previous ATH breakout zone
3️⃣ Sharp correction meeting multiple support levels
4️⃣ EMAs providing dynamic resistance above.
✨ Key Observations:
➡️ Multiple technical confluences at the current level
➡️ Expecting good 1:3 RRR w/ 15% SL
➡️ RRR is highly favourable at current levels
➡️ Price structure suggesting a potential reversal
➡️ Volume patterns indicating selling exhaustion
➡️ The pharma sector is showing relative strength.
➡️ Perfect technical setup with multiple confirmations is looking to good.
⚠️ Disclaimer: This is NOT a buy/sell recommendation. This post is meant for learning purposes only. Views are personal. Please, do your due diligence before investing.⚠️
💬 Share your thoughts on this analysis in the comments below! ✌️
🔥 Happy Trading!✅🚀
1️⃣ Price testing crucial fibonacci retracement level.
2️⃣ Strong Dz confluence with previous ATH breakout zone
3️⃣ Sharp correction meeting multiple support levels
4️⃣ EMAs providing dynamic resistance above.
✨ Key Observations:
➡️ Multiple technical confluences at the current level
➡️ Expecting good 1:3 RRR w/ 15% SL
➡️ RRR is highly favourable at current levels
➡️ Price structure suggesting a potential reversal
➡️ Volume patterns indicating selling exhaustion
➡️ The pharma sector is showing relative strength.
➡️ Perfect technical setup with multiple confirmations is looking to good.
⚠️ Disclaimer: This is NOT a buy/sell recommendation. This post is meant for learning purposes only. Views are personal. Please, do your due diligence before investing.⚠️
💬 Share your thoughts on this analysis in the comments below! ✌️
🔥 Happy Trading!✅🚀
Trade active
Anubrata Ray ⚡
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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.
Anubrata Ray ⚡
Related publications
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.