Nifty hourly is at the PRZ of a Bearish Harmonic Cypher. It also happens to be a resistance as per Ichimoku in hourly time frame. A retracement till 12100 could be probable from here provided it does not give an hourly close above 12250.
In weekly time frame it is showing signs of revering from a Bearish Harmonic Cypher PRZ. In hourly time frame it has made a Bearish Harmonic Gartley and reversed. Failure to hold 490 on closing basis in daily time frame could be a trigger for the expected down move till 450. In hourly time frame trading above 513 would negate the move for now.
The retracement from the resistance could be ending here near a Bullish Cypher which is close to both daily and weekly support. The overall uptrend view along with this would get negated below 2085
It has made a Bullish Cypher near a Kumo in daily time frame. It can retrace back to 800 provided its does not go below 758
Critics are welcome to comment. I know its too early to confirm the pattern, just trying my hands on harmonics
NSE:DABUR Bullish Cypher is forming in dabur can initiate long view with SL of 418
NSE:HCL_INSYS THE SCALE IS NOT LOCKED, ZOOM ACCORDINGLY WHEN NECESSARY In the daily chart.. A potential bullish cypher is due completion... this is a point of good long entry planned.. The other long entries are planned in phase c and d as mentioned.. the Markup target is a conservative one, and will be updated once the base formation i done.. here is the...
there was a sharp retracing from the line of good demand and close above another line shows SOS.. this bearish cypher most likely will fail to reverse the uptrend and it will test the line above... i have a feeling this will even cross it, the advance has such a massive volume, if this big spread on the advance is reversed of then the demand is most likely to...
I thought these cypher, Gartley patterns are tough until I learnt it is based on fibonacci ratios. Draw fibonacci levels from X to A. Point B should not close above 0.618 fib level. The point C should form between A and B. Point D should not close above 0.786. Now lets see how to trade this Gartley pattern. Sell at 0.786 with the stoploss of few points above it....