There is lot of twists herein:
By the looking left to right, while breaking out the price Congestion we have seen Invalid breakout in price. That why price suddenly fall.
Bullish forget of 3 candles was completely perfect but, again we have seen valid heavy volume candle ...! Something is cooking in this stock.
Let look more closer to the 4hrs chart....
Dmart forming continues negative Divergence.
Price will start falling if it can't hold the high if 2500-2400.
Trade with stop loss.
Once close below 1700 it will easily fall to 1000 or much lower level.
Let me ask you one simple question.
Is trading all about buying and selling... greed and fear... profit and loss?
Or can we take some inspiration from other aspects of life too...?
In one of my earlier post we looked at Art of War & applied the principles of war to trading.
Today, I’m going to try & connect cricket with trading. Let's see if it can make a...
I know its a messy one, I'm still learning views comments are welcome...
So, I tried to draw a range of NIFTY in coming week i.e. till expiry
Black lines denote monthly S/R,
Green and red lines denote Weekly S/R and
Yellow line denotes strong S/R on 15min time frame
Other color lines denote temporary 15min S/R...
How's it !!
This pair, last 2 weeks its been moving inside the box , after May started its expected to go up but in contrast, gold against dollar pair is moving sideways.. after the strong bullish move from 1483 on March mid to 1747 on April Mid. and it clearly get itself into a accumulation zone.
I am not surprised if this moves in the similar way for the coming few weeks...Thanks
LAST WEEK I SHARED THE SAME SETUP OF DAILY CHART , PRICE IS HOVERING IN YELLOW CIRCLE.ONE WHITE COLOR SUPPRT LINE IS INTACT. A UPWARD SLOPING CHANNEL IN GRREN COLOR IS INTACT. TILL PRICE REMAIN IN THIS CHANNEL NIFTY IS SUPPOSED TO MOVE UP SIDE. IN ANY CASE I F GREEN CHANNEL IS BREACHED THEN LONG POSITIONS FOR THIME BEING SHULD BE SURRENDERED. ON THE CONTARY ONE...
Optimistic View - Nifty retraces to 7500 and rebounds back to current levels to complete a double bottom formation before breaking resistance @ 8900, in which case the target would be 10,000 (Max Call OI). This will become the next crucial resistance level.
Pessimistic View - Nifty retraces to 7500, either stays within 7500-8900 level or breaks...