LAST TRADING SESSION ICICI BANK ALREADY GAVE A PULLBACK ON 0.5 FIBO LEVEL AND STARTED ITS JOURNEY SO IT WAS IN WATCHLIST
ALL I NEED IS CONFIRMATION
THERE WAS ALREADY A RSS ( GREEN SPOT)
ON BO OF THAT
TRADE COULD BE EXECUTED AT YELLOW
FOR 1% TARGET EASY
FOR MORE CONTACT 9940084570
Made swing low of 875 - 1108. Draw Fibonacci levels from swing high to swing low. Made shooting star price pattern (14th July) and bullish hammer (10th august) near Fibonacci 61 percent levels. Entry could have been in buy zone and target as near term resistance (1071) and Stop loss at swing low (875). 10 percent gain in a month could have been achieved.
Last week, I had posted charts of COALINDIA forming a descending channel and also predicted a breakout in the coming days.
Here it is, this may not be like a 5-10% trade or something. But a 2% is enough for intraday.
The trade involved no risk and very easy to spot as the volume rocket from 100k to 2.9M as the breakout happened.
This was to show the power of...
In terms of swings,
When point 2 is above 1
3 is below 1, and price reverses from 4,
connecting 1 to 3 and extending - creates possible support line
connecting 1 to 4 and extending - creates possible target line.
Price bounces from support line (point 5) and tries to touch the target line.
We should start plotting only after point 4 is clearly evident.
As per daily chart in ICICI BANK Bears phase cycle is on swing with the negative impact of both Fundamentally on sector wise and as well as Technically. But as Fight Continue from Swing high of 307 Bears Attacked on Bulls with Three Consecutive Drag down Round upto 295 levels and Bears have More Power to Beat Bulls to the level 276.50 and more below 262 Levels...