It might be forming a THREE VALLEYS & A RIVER in hourly time frame. It has two bearish Harmonic Trading Patterns at 11875 (Deep Crab) and at 11975 (Alt Shark). "If" a REVERSAL were to occur from that zone then the downside expected levels could be 11750 / 11550 / 11400. The negation point would be at 12020
ACC has formed divergence. with lower rsi and higher price. shows a triangle at the top. price above or below the triangle can give a trending move. note: crucial week for markets with US elections this week. lot of volatility expected. saving capital is primary importance.
The rules of elliot wave theory are strict, any break of the rule may lead into wrong analysis, always keep rules on your mind while labelling the waves. If you're a beginner, write down the rules in a sheet of paper, read it before labelling the waves. How to improve yourself? Practice! The more you practice, better the results. Regards
CADILA HC - IN RANGE FOR 3 DAYS TRADE OUTSIDE THE RANGE WITH PROPER HIGH VOLUME BREAKOUT & PULL BACK
BHARTI AIRTEL - TRADE OUTSIDE THE RANGE CONSOLIDATING WITH ANOMALIES TRADE ON PROPER BREAKOUT WITH VOLUME + PULLBACK
Last time i posted this stock on 13th of October and since then it kept me waiting for the right time. I clearly mentioned it needs to halt before breaking out and that is what it did. Previous Posted Chart for the reference :- Waited for almost 20 days and then gave returns of 10% in a day. This is what is important in trading Waiting for the right time....
DJIA which turned from a Bullish Harmonic AB=CD is now approaching the PRZ (28600-28800) of a Bearish Harmonic AB=CD. Like in the bullish instance which coincided with Ichimoku support, here too the expected resistance tallies with an Ichimoku weekly resistance and a falling trend line. View would negate above 28900
NSE:ITC Stock has turned back from critical support level. Closed over 50 ema with bullish candle before results.RSI just crossed 60 so trend should continue. Stock also closed over resistance trend line. If remain above the line then tgt is 190-200. Momentum also increasing as seen from MACD histogram.
Price forming a triangle pattern and currently it is rejecting from the top of the trend line and falling towards the bottom trend line. It is good to enter long when price reaches the trend line bottom with small stop loss or wait for the reversal confirmation and go long.
It is clear that 26500 can be seen in BankNifty... Where next?
Itc Short term view Start at 169 Stop Loss today Low 167 add more quantity @ 175 and 181 Target 200 Capital Allocation 0.05 % of Portfolio Good Risk to Reward Ration Here
HOW TO FOLLOW ALGO SIGNAL: Deciding buy/sell 1.Strictly use only on 1 hour time frame. 2.Wait for a ‘X’ sign before mind make up. A red ‘X’ means look for selling opportunity , a green ‘X’ means look for buying opportunity. Taking a position: 3.Wait for an arrow before entering into any position. A red arrow on upside of a bar pointing downward means open...