(By Jeffry Kennedy) 1. As long as prices move is contained by deceleration channel(parallel channel), the price action is countertrend, and once complete, it will be more than fully retraced. 2. The upper boundry line of base channel supports the fourth wave at either the upper boundry line, midline, or lower boundry line. 3. As soon as wave 4 is in place and...
We have always heard that resistance once broken turns into support . Just look at this stock doing it multiple times. Everytime it breaks it comes back to retest existing resistance and goes for another run.It is doing this again. A rejection candle or long wicks/shadows near the retest/support. Hope it helps or adds any input in learning curve. Keep learning...
bullish or bearish flag
hold for long term, as automobile industry shares are available at lower price now. try to grab at dips. fresh buy at 69, 70, 71 levels. Disclaimer note: ONly for study purpose, invest at your own risk.
From these observations we can say that we are in Wave 4 and still there is a room for a bounce towards 95-95.5 levels before we get a final leg down in terms of Wave 5. Assuming Wave 4 terminates around 95.25 levels we may see a further decline towards 90 levels which is our minimum expectation as Wave 5 TGT as seen in the image below. And if it extends we may...
Explained in the chart.
watch for breakout on either side with volume as confirmation
Marico reversed big in the last trading session because the price reached the major support level ( major because this level plays from 2017 ) which is shown in the analysis. So the price wont reject too big without reason. Start your analysis in bigger time frame to find this small small clues !!!
Nowadays in internet we can get whatever information we need in any subject. Lot of trading related materials are available. Then why profitable traders ratio is very less ? One of the reason is mindset. And another reason is unorganised knowledge. Lets say for example a library contain books in various subjects, but they are not organised subjectwise. In that...