TATA STEEL LTDEducation
Tata Steel - Weekly/Daily Candle Analysis
Updated
My weekend analysis of Tata Steel. This is NOT a trade recommendation.
On the weekly charts it has gone down 127.2% of the range from about mid January till first week February which is quite typical
Wolfe analysis and probable Fibonacci and Support Resistance levels of Daily candles supports what the weekly chart is showing
I wish to thank user Praveen Bhatiya for alerting me to his Wolfe analysis - do view his chart at the link I have provided below:
On the weekly charts it has gone down 127.2% of the range from about mid January till first week February which is quite typical
Wolfe analysis and probable Fibonacci and Support Resistance levels of Daily candles supports what the weekly chart is showing
I wish to thank user Praveen Bhatiya for alerting me to his Wolfe analysis - do view his chart at the link I have provided below:
Trade closed manually
Closed first thing in the morning at 610 (futures price). 1. Price reached 23.6 retracement of the rise since 4th April
2. Matched the top of 11th April candle
3. Very near the Wolfe line extension from 1-4
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