This post I have created for education purpose for the beginners.
This is simple analysis without using any indicator.
One should use 30 min timeframe for intraday only just to see what's happening on big timeframe.
30 min TF is not good for intraday and I wouldn't suggest this to anyone.
My stoploss would be below the breakout candle also because it is below...
IF GAP DOWN : IGNORE IF WEAK MOMENTUM , IF STRONG
STEP2;
LOOK FOR BREAKOUT CANDLE AND LOOK FOR R1 AND R2
IF GAP UP:
FOLLOW STEP 2
.
TAKE CALL ON YOUR OWN RISK
AFTER A CLEAR GAP UP AND STRONG CANDLE
IT CONSOLIDATED AND TOOK FIBO SUPPORT
AND AFTER BREKOUT ON EXTENSION STRATGY
IT GAVE PHENOMENAL ON CALL OPTION POSITION
It has given a diagonal breakdown which indicates 4900/4400 as possible areas before any major respite comes. On the other hand immediate resistance is at 6250 above that 6800.
These two points are -ve for trade in short side.
Minor and weighted supports have existed.
The excess(f) might be performed as excess and price can move still to the channe l.
Suppose to, this stock is entered into the bearish zone, it will not back 7605 above.
