INTERESTING MOVE EXPECTED FROM YES BANK ,INSIDE BARS TRADING .
1 ) NO 1 BAR ID MOTHER BAR OF NO 2.
2) NO 2 BAR IS MOTHER BAR OF NO 3 AND 4.
3)NO 4 BAR IS A SQUEEZED BAR.
4) EXPECTED BREAK OUT OR BREAK DOWN OF THIS CONSOLIDATION IN COMING DAYS.
5) WHILE CONSIDERING BAR 1 IT IS BEARISH BAR INDICATING DOWN TREND OR TREND REVERSAL OF ITS PREVIOUS TWO BARS.
6) INSIDE BAR TRADING TECHNIQUE MAY BE APPLIED HERE WITH PROPER STOP LOSS.
7) GO LONG WHEN PRICE BREAKS HIGH OF BAR 2 WHILE STOP LOSS AT LOW OF BAR 2 AND VICE VERSA.
8)HIGH OF NO 1 BAR WILL OFFER RESISTANCE TO ANY POSITIVE BREAK OUT AND LOW OF NO 1 BAR WILL OFFER SUPPORT TO BREAK DOWN.
9) OTHER SUPPORT AND RESISTANCE DEPICTED IN THE CHART.
2) NO 2 BAR IS MOTHER BAR OF NO 3 AND 4.
3)NO 4 BAR IS A SQUEEZED BAR.
4) EXPECTED BREAK OUT OR BREAK DOWN OF THIS CONSOLIDATION IN COMING DAYS.
5) WHILE CONSIDERING BAR 1 IT IS BEARISH BAR INDICATING DOWN TREND OR TREND REVERSAL OF ITS PREVIOUS TWO BARS.
6) INSIDE BAR TRADING TECHNIQUE MAY BE APPLIED HERE WITH PROPER STOP LOSS.
7) GO LONG WHEN PRICE BREAKS HIGH OF BAR 2 WHILE STOP LOSS AT LOW OF BAR 2 AND VICE VERSA.
8)HIGH OF NO 1 BAR WILL OFFER RESISTANCE TO ANY POSITIVE BREAK OUT AND LOW OF NO 1 BAR WILL OFFER SUPPORT TO BREAK DOWN.
9) OTHER SUPPORT AND RESISTANCE DEPICTED IN THE CHART.
Comment:
Now a days inside day trading to be executed care fully. to be confirmed with several other factors.As large players know where the stop loss may be they will try to take out your stop loss and reverse.First confirm about the trend and proceed in that direction.
At present movement seems to be bearish but not confirmed.
Will update once price moves out of consolidation.