Here's something I've been using recently with andrew's pitchfork. If you use a 2x extension on the width rather than the pitchfork itself, then it often defines a trend line which helps to identify a head and shoulders pullback.
Ideally the head will go deep into the extension and then the right shoulder tags it after a retrace. The idea is the trade is entered...
Is BANKNIFTY' in Sell on Rise Mode?
Who protect BANKNIFTY' from falling?
#1. NIFTY' PVT' Bank: Struggling - Probability of Flat to "-VE" Return.
#2. NIFTY' PSU' BANK: Exhausted - Probability of "-VE" return.
Education Purpose Only.
The Nifty 50 index bounced off the lower parallel of the Wyckoff reverse-trend-channel. Here is the chart with pitchforks. Notice how price bounces off the first warning line of the green pitchfork.
Outlook is bullish for the Nifty as long as the recent lows are not violated...