Although the Action/Reaction method as taught by Andrews is a very good trading setup but is less known by Indian traders so am explaining it step by step.
First we draw a Multi Pivot Line : A line drawn across 3 or more pivots without touching prices in between. The next step is to locate a previous low or high pivot point to use for drawing an action line. Next, a parallel line was drawn to the right of the C/L, Notice that it is the same distance from the C/L as the corresponding Action line. The Law of Physics stated by Newton that Action and Reaction are equal and opposite is applied and it works wonderfully. One can train his eyes by drawing such set and in case of doubts/questions just ask I would try to reply.
Happy learning and wishing all mates a profitable Prosperous NEW YEAR 2018.
and you are expecting price will move without pull back ??
praveen.bhatiya
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@Kimara, No, I don't mean that price moves vertically without pull back. It may take natural course with retracement.
Hulk703
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Hello Sir .. Can you please advise on Bupa Arabia Technical Analysis .. Stock number is 8210/on Investing
com .
Appreciate your help
praveen.bhatiya
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@Hulk703, There is nothing significant in the stock yet. It is in downtrend and showing sign of recovery but need confirmation and no trade exist, so we should wait.