No view. It is just part of a discussion. So just archiving a good chart and sharing if it is useful for someone else.
The previous swing high is 11800. There are two unfilled fresh gaps shown in the chart and we know that markets don't like gaps, thus eventually fill it. Is this the top of the market for the current period?? Will nifty successfully break the 11800 levels???
1. support and resistance spotted 2. support broken 3. support now acts as resistance 4. falling gap from the resistance 5. Use the gap in your trading plan P.S. Trade at your own risk, this is for educational purpose only! Do not treat this as TIPS! TIPS=SPIT LEARN AND EARN YOURSELF .... INDEPENDENTLY
IF GAP DOWN : IGNORE IF WEAK MOMENTUM , IF STRONG STEP2; LOOK FOR BREAKOUT CANDLE AND LOOK FOR R1 AND R2 IF GAP UP: FOLLOW STEP 2 . TAKE CALL ON YOUR OWN RISK
We may see a pullback in hul since past trend indicating the same ,i.e., respecting Ema 200 since july.,2020.
1. BIG GAPUP, FOLLOWED BY BIG GREEN CANDLE . 2. PRICE SHOWED THE REAL FACE AFTER LOSING MOMENTUM 3. NOW AFTER BREAKING SUPPORT OPENING PRICE , THE PRICE HAS TO FILL THE UNNECESSARY GAP - UP 4. ON CONFIRMTION A SHORT WAS GIVEN 5. FOR THE TARGET FOR PREVIOUS DAY LOW
AFTER A CLEAR GAP UP AND STRONG CANDLE IT CONSOLIDATED AND TOOK FIBO SUPPORT AND AFTER BREKOUT ON EXTENSION STRATGY IT GAVE PHENOMENAL ON CALL OPTION POSITION
STRATEGIES DEPLOYED 1. PIVOT RESISTANCE 2. FIBO CONFIRMATION 4.SUPPLY AND DEMAND 5. CANDLE STICK STRATEGY LOOK FOR RESISTANCE AS TARGET AND FIBO REVERSAL FOR ENTRY POINTS
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
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Comments in the chart
bank nifty has been given RSI break out and will be go upward at 22082
USDCAD is coiling for its next move. The higher lows suggest strength, but USDCAD needs to secure a close above 1.34200 to open the door to the 1.35000 area. Keep an eye on 1.33720 in the event of a pullback. ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . ....
It's a perfect chart to understand about negetive and positive divergence. When price go up and rsi go down its call negetive divergence (indicate by blue line in chart) after that price will go down & if price go down and rsi go up its call positive divergence (indicate by red line in chart) after that price will go up.