One reason why I am Still VERY bullish on Bitcoin
This chart is very simple and it explains itself very well
The upper trend line is formed by going through January candles only ( I have used a Line Chart here for Visibility but rtust me, that line goes through January Candles )
And, as you can see, when PA is above this trend line, it is en-route to ATH
It also helps us see where we are in realtion to previous Januaries.
And, If I am honest, we are Lower than we should be,.
If we look in the channel, the Jan before PA crossed the trend line,going to the 2017 ATH, PA was 114% above the lower Trendline.
The January before crossing the trendline en-route to 2021 ATH, PA was 214% above the Lower trendline - It has to be said, this cycle was blown out of proportion by excessive Leverage etc and, for me, this led to a premature ATH in March. The Real ATH are Late in the year, Nov or December.
This January, 2025, PA is only 87% above that Lower trendline.
But despite the Low level, we do seem to be entering a Much more friendly Crypto Finacial world now and I do expect PA to pick up. If we were to remain under the rising line of resistance, coming off the initial Wave higher in 2023, we hit the upper trendline around 2nd Half of summer. 2025 and at a price around 256K usdt
The ATH will be above this line and we will have to wait to see how much higher it goes.
This is the GREEN YEAR in Bitcoin Cycles.
Lets go
Please Note, I do expect the first quarter to be possibly not so friendly.
We have to wait an see but by this time next year, I am hoping we will have had the ATH
Time will tell
Chart Patterns
BUY TODAY SELL TOMORROW for 5%DON’T HAVE TIME TO MANAGE YOUR TRADES?
- Take BTST trades at 3:25 pm every day
- Try to exit by taking 4-7% profit of each trade
- SL can also be maintained as closing below the low of the breakout candle
Now, why do I prefer BTST over swing trades? The primary reason is that I have observed that 90% of the stocks give most of the movement in just 1-2 days and the rest of the time they either consolidate or fall
Trendline Breakout in GTPL
BUY TODAY SELL TOMORROW for 5%
BUY TODAY SELL TOMORROW for 5%DON’T HAVE TIME TO MANAGE YOUR TRADES?
- Take BTST trades at 3:25 pm every day
- Try to exit by taking 4-7% profit of each trade
- SL can also be maintained as closing below the low of the breakout candle
Now, why do I prefer BTST over swing trades? The primary reason is that I have observed that 90% of the stocks give most of the movement in just 1-2 days and the rest of the time they either consolidate or fall
Round Bottom Breakout in MGEL
BUY TODAY SELL TOMORROW for 5%
GOLD TRADING POINT UPDATE >READ THE CAPTAINBuddy'S dear friend 👋
Gold Trading Signals 🗺️🗾 Update Gold Traders SMC-Trading Point still holding gold Short but take a break up trand fisrt buying zone right now 2670 2680 that entry open to recover from Short trend See nalysis. CHART understand that 🙏 technical analysis update Gold take breakout up trand next target we'll see 2670 80. Again sell it rejected point and Short Trade line Good luck 🤞
Small target we'll see 2670+80
Analysis target 2615
Mr SMC Trading point
Support 💫 My hard analysis Setup like And Following 🤝 me that star ✨ game 🎮
NIFTY 50: Comprehensive Analysis, Key Drivers,and FutureOutlooK?Chart Analysis: NIFTY 50
Key Levels of Interest
Support Zone (Highlighted in Green):
Range: 23,200–23,500
The chart shows a strong demand zone where buyers have historically stepped in. This area has acted as a reliable support, preventing further downside in the past.
Resistance Levels:
Immediate Resistance: 24,200–24,400 (Purple line)
Price has been struggling to break above this level, indicating a significant selling pressure.
Major Resistance: 25,550
Represented as a key level for a potential bullish breakout.
Trendline Analysis
The blue descending trendline highlights the pattern of lower highs, confirming a downward trend.
Unless price breaks above the trendline, the overall sentiment remains bearish.
Moving Averages
50-Day SMA (Purple Line): The price is trading below this level, signaling short-term weakness.
200-Day SMA (Yellow Line): The long-term moving average suggests bearish momentum as prices are below this too.
Candlestick Patterns
Recent candles show long lower wicks, which suggest some buying interest near the support zone.
Lack of large green candles indicates weak follow-through on buying attempts.
Volume Analysis
The volume bars are tapering off, showing a lack of strong participation in the current consolidation phase.
An uptick in volume near either resistance or support could signal the next significant move.
Indicators on Chart
RSI (Relative Strength Index): Though not displayed directly on the chart, you can infer it from the general price action. The price is likely near an oversold level, hinting at a potential bounce.
SuperTrend Indicator:
Currently bearish, indicating selling pressure dominates.
Short-Term Bias
Neutral to Bearish: While the price is consolidating in a range, it leans toward bearish due to:
Rejection near resistance.
Trading below both moving averages.
A downward-sloping trendline.
Scenarios Based on the Chart
Bullish Scenario
Breakout Above 24,400:
This resistance must be broken with strong volumes to indicate bullish momentum.
The next target would be 25,550, followed by potential higher highs.
Watch for large green candles and high volumes to confirm strength.
Bearish Scenario
Breakdown Below 23,200:
A fall below the support zone could accelerate selling, bringing prices to 22,800 or even lower.
This would signal continuation of the prevailing bearish trend.
Neutral Range
As long as prices remain between 23,200 and 24,400, the NIFTY 50 is likely to consolidate without a clear direction.
Short-term traders can exploit this range for quick trades, while long-term players might wait for a decisive move.
Next Steps for Traders Based on Chart
Aggressive Traders:
Look for breakouts or breakdowns near the trendline and support/resistance zones.
Conservative Traders:
Wait for confirmation (volume and candlestick patterns) before taking positions.
Use of Stop Loss:
For bullish trades, stop loss should be placed below 23,200.
For bearish trades, stop loss should be above 24,400.
What is NIFTY 50?
The NIFTY 50 is India’s flagship stock market index, representing the top 50 companies listed on the National Stock Exchange (NSE). It serves as a benchmark for the performance of the Indian stock market. These 50 companies are selected based on market capitalization and liquidity, spanning 13 sectors, including financials, IT, energy, and FMCG.
Growth of NIFTY 50
Historical Growth:
The NIFTY 50 started in 1996 with a base value of 1,000.
Over the years, it has become a barometer of India's economic progress, reflecting the performance of top blue-chip companies.
Long-Term Drivers of Growth:
Economic Expansion: India’s GDP growth has been a key factor.
Reforms and Policies: Initiatives like GST, Make in India, and privatization of PSUs have boosted the market.
Foreign Investments: FII/FDI inflows, due to India being a high-growth emerging market, have supported the index’s growth.
Sectoral Growth: IT, banking, and consumer goods have consistently driven the index higher.
Key Milestones:
2008: Crash during the global financial crisis.
2014: Bull run after stable government formation.
2020-2021: Sharp recovery post-COVID-19, driven by tech and healthcare sectors.
Factors Affecting NIFTY 50
Economic Factors
GDP Growth: Positive GDP growth supports the index as companies earn more.
Inflation: High inflation can reduce consumer purchasing power and hurt corporate profits.
Interest Rates: Higher interest rates discourage borrowing and investing, pressuring the index.
Global Events
US Federal Reserve Policies: Fed rate hikes impact global liquidity and foreign investments in Indian markets.
Geopolitical Tensions: Events like the Russia-Ukraine conflict can increase uncertainty, leading to volatility.
Commodity Prices: Rising oil and commodity prices hurt India due to its reliance on imports, especially crude oil.
Domestic News
Earnings Reports: Quarterly performance of heavyweight companies impacts the index.
Budget Announcements: Policies favoring infrastructure, manufacturing, or tax cuts can uplift sentiment.
Rupee Movement: A weak rupee can impact sectors like IT positively but hurt import-heavy sectors.
Sectoral Performance
Banking and IT have the highest weightage, making them critical to the index’s movement.
A strong rally in FMCG or Energy sectors can also significantly push the index.
Comprehensive News Analysis
Bullish News
Lower Crude Oil Prices: Reduces import bills and benefits the economy.
Strong FII Inflows: Sign of growing foreign investor confidence.
Favorable Budget Policies: Tax cuts, incentives for sectors like manufacturing, EVs, and infrastructure can push the index higher.
Bearish News
Recession Fears: Global recession concerns can lead to foreign outflows.
High Inflation: Persistently high inflation can weigh on corporate profits and valuations.
Rate Hikes: Further rate hikes by the RBI or US Fed may trigger selling pressure.
Future Outlook: Scenarios
Bullish Case
Support Zone Holds: If the price stays above 23,200 and breaks above the resistance at 24,400, it would signal bullish momentum.
Catalysts:
Stabilizing global macroeconomics.
Strong earnings by large-cap companies.
Infrastructure and manufacturing-led growth supported by government spending.
Targets:
Immediate Target: 25,550.
Long-Term Target: 27,000 (new highs, provided favorable conditions persist).
Bearish Case
Support Breaks at 23,200: A breakdown would open the door to further selling, with targets around 22,800 or lower.
Catalysts:
Weak global cues, like rising bond yields or geopolitical tensions.
Negative earnings surprises or downgrades of key constituents.
Targets:
Immediate Target: 22,500.
Long-Term Target: Below 22,000 (in case of broader market corrections).
Key Takeaways for Traders
Monitor Key Levels:
Support: 23,200.
Resistance: 24,400.
Follow the Trendline: Watch for breaks or bounces off the descending trendline for clarity.
Watch Sectoral Trends: Banking and IT are crucial due to their high weightage.
News Catalysts: Follow FII data, crude oil prices, and quarterly earnings for short-term moves.
Actionable Trading Strategies
Bullish Strategy
Buy Entry: Above 24,400 with strong volumes.
Target: 25,550 and higher.
Stop Loss: Below 24,000 to minimize risk.
Bearish Strategy
Sell Entry: Below 23,200 with volume confirmation.
Target: 22,500 or lower.
Stop Loss: Above 23,600 to protect against reversals.
Comprehensive Analysis of NIFTY 50
What is NIFTY 50?
The NIFTY 50 is India’s flagship stock market index, representing the top 50 companies listed on the National Stock Exchange (NSE). It serves as a benchmark for the performance of the Indian stock market. These 50 companies are selected based on market capitalization and liquidity, spanning 13 sectors, including financials, IT, energy, and FMCG.
Growth of NIFTY 50
Historical Growth:
The NIFTY 50 started in 1996 with a base value of 1,000.
Over the years, it has become a barometer of India's economic progress, reflecting the performance of top blue-chip companies.
Long-Term Drivers of Growth:
Economic Expansion: India’s GDP growth has been a key factor.
Reforms and Policies: Initiatives like GST, Make in India, and privatization of PSUs have boosted the market.
Foreign Investments: FII/FDI inflows, due to India being a high-growth emerging market, have supported the index’s growth.
Sectoral Growth: IT, banking, and consumer goods have consistently driven the index higher.
Key Milestones:
2008: Crash during the global financial crisis.
2014: Bull run after stable government formation.
2020-2021: Sharp recovery post-COVID-19, driven by tech and healthcare sectors.
Factors Affecting NIFTY 50
Economic Factors
GDP Growth: Positive GDP growth supports the index as companies earn more.
Inflation: High inflation can reduce consumer purchasing power and hurt corporate profits.
Interest Rates: Higher interest rates discourage borrowing and investing, pressuring the index.
Global Events
US Federal Reserve Policies: Fed rate hikes impact global liquidity and foreign investments in Indian markets.
Geopolitical Tensions: Events like the Russia-Ukraine conflict can increase uncertainty, leading to volatility.
Commodity Prices: Rising oil and commodity prices hurt India due to its reliance on imports, especially crude oil.
Domestic News
Earnings Reports: Quarterly performance of heavyweight companies impacts the index.
Budget Announcements: Policies favoring infrastructure, manufacturing, or tax cuts can uplift sentiment.
Rupee Movement: A weak rupee can impact sectors like IT positively but hurt import-heavy sectors.
Sectoral Performance
Banking and IT have the highest weightage, making them critical to the index’s movement.
A strong rally in FMCG or Energy sectors can also significantly push the index.
Technical Chart Analysis
The NIFTY 50 is currently in a descending triangle pattern, with key support levels and resistance zones as follows:
Support Levels:
Immediate support: 23,200 (green demand zone).
A break below this level could lead to further downside to 22,500 or lower.
Resistance Levels:
Immediate resistance: 24,400 (upper trendline of descending triangle).
A breakout above this could signal a bullish trend reversal.
Trendlines and Moving Averages:
The 200-day moving average (yellow line) provides long-term support around 23,700.
The 50-day moving average (purple line) acts as a short-term resistance.
Volume Analysis:
Higher volumes near support zones indicate potential accumulation.
Declining volumes near resistance suggest indecision.
Comprehensive News Analysis
Bullish News
Lower Crude Oil Prices: Reduces import bills and benefits the economy.
Strong FII Inflows: Sign of growing foreign investor confidence.
Favorable Budget Policies: Tax cuts, incentives for sectors like manufacturing, EVs, and infrastructure can push the index higher.
Bearish News
Recession Fears: Global recession concerns can lead to foreign outflows.
High Inflation: Persistently high inflation can weigh on corporate profits and valuations.
Rate Hikes: Further rate hikes by the RBI or US Fed may trigger selling pressure.
Future Outlook: Scenarios
Bullish Case
Support Zone Holds: If the price stays above 23,200 and breaks above the resistance at 24,400, it would signal bullish momentum.
Catalysts:
Stabilizing global macroeconomics.
Strong earnings by large-cap companies.
Infrastructure and manufacturing-led growth supported by government spending.
Targets:
Immediate Target: 25,550.
Long-Term Target: 27,000 (new highs, provided favorable conditions persist).
Bearish Case
Support Breaks at 23,200: A breakdown would open the door to further selling, with targets around 22,800 or lower.
Catalysts:
Weak global cues, like rising bond yields or geopolitical tensions.
Negative earnings surprises or downgrades of key constituents.
Targets:
Immediate Target: 22,500.
Long-Term Target: Below 22,000 (in case of broader market corrections).
Actionable Trading Strategies
Bullish Strategy
Buy Entry: Above 24,400 with strong volumes.
Target: 25,550 and higher.
Stop Loss: Below 24,000 to minimize risk.
Bearish Strategy
Sell Entry: Below 23,200 with volume confirmation.
Target: 22,500 or lower.
Stop Loss: Above 23,600 to protect against reversals.
Disclaimer
This analysis is for educational and informational purposes only and should not be considered as financial or investment advice. Trading and investing in the stock market carry risks, and past performance is not indicative of future results. Always conduct your own research or consult with a certified financial advisor before making any investment decisions.
Ethereum at a Critical Turning Point: Head & Shoulder PatternEthereum Technical Chart Study
Ethereum is showing some interesting price action. It recently took resistance from its resistance zone and is now forming a classic Head & Shoulder pattern—a structure often signaling potential reversals.
Currently, the price is sitting right at the neckline of the Head & Shoulder pattern. If this neckline breaks, it could lead to further downside movement.
Looking below, there’s some key support to watch:
1. The 2800 resistance zone, which Ethereum broke out of earlier, hasn’t been tested yet. This zone might now act as a strong support if the price moves downward.
2. There’s also a trendline support in play, adding another layer of potential price stability.
So, what’s next?
If Ethereum breaks the neckline, we could see the price fall towards the 2800 zone or possibly to the trendline support. These are the levels to keep an eye on for the next big move.
Bitcoin will go downStrategy 1: Short from Supply H4 Zone (With 2 Entries)
Short Setup:
Entry 1: 96,500 USDT (First Supply H4 zone)
Entry 2: 99,200 USDT (Second Supply zone near the psychological level of 100k)
Stop Loss (SL): 100,500 USDT (Placed above the strong Supply zone and psychological level)
Take Profit (TP):
TP1: 93,000 USDT (Nearest support level)
TP2: 91,200 USDT (Close to the Demand Zone)
TP3: 89,800 USDT (Main Demand Zone)
Risk Management:
Split the position into two parts, each with 50% risk.
Entry 1 at 96,500 USDT
Entry 2 at 99,200 USDT
Risk-to-Reward Ratio (R:R): ~1:3 or better, depending on your take profit targets.
🟢 Strategy 2: Long from Demand Zone (Adjusted Stop Loss)
Long Setup:
Entry: 89,800 - 91,000 USDT (Strong Demand Zone)
Stop Loss (SL): 90,200 USDT
Take Profit (TP):
TP1: 93,000 USDT
TP2: 96,500 USDT (Supply H4 Zone)
TP3: 98,000 USDT
Please leave a comment to let me know you've been following. Good luck.
Nifty Price Update 9.1.2025 Time 14.36 "Nifty" refers to the **Nifty 50**, which is a stock market index representing the performance of 50 large and well-established companies listed on the **National Stock Exchange of India (NSE)**. The index serves as a key benchmark for the Indian equity market, providing an indication of how the market is performing overall.
Here are a few key points about Nifty:
1. **Composition**: The Nifty 50 includes 50 companies from various sectors like technology, finance, energy, healthcare, and consumer goods. These companies are chosen based on their market capitalization and liquidity.
2. **Market Representation**: The Nifty index represents approximately 65-70% of the total market capitalization of the companies listed on the NSE. It covers a wide range of industries, making it a broad representation of the Indian economy.
3. **Calculation**: The index is calculated using the free-float market capitalization method. This means that the index value is based on the market capitalization of the constituent companies, considering only the freely tradable shares (excluding restricted shares like those held by promoters).
4. **Use**: Investors, traders, and analysts use the Nifty 50 as a benchmark for market performance, to measure portfolio returns, or to track the general health of the Indian stock market.
The Nifty is commonly compared to other indices, such as the **Sensex**, which is based on the **Bombay Stock Exchange (BSE)**, and represents a different set of large companies in India.
Can RELIANCE be accumulated at the Current Market Price(CMP) ?Reliance: Bullish Potential Above Monthly Trendline! 🚀
If Reliance closes above the trendline on the monthly timeframe, it signals a strong buying opportunity for accumulation. Watch closely for confirmation!
"Reliance: Technicals Indicate Strength, But Patience is Key!"
"The chart is technically looking good; As one can see price is forming a Ascending channel pattern.
However, it's essential to wait for the monthly candle to close above the trendline before taking action. Patience remains the cornerstone of successful investing and trading. Stay disciplined and wait for confirmation!"
> Premature entries can lead to unnecessary risks.
>Always prioritize confirmation over anticipation
$ - Sell ?For several months $ was weak but as US Equity reached new ATH $ was making accumulation at lower levels and took lot of time to rise. Right now $ index is at golden ration level and I expect possibilities are distribution and price could fall in coming days and I do not expect $ index to rise further higher. with new president having plans to make US exporter and wanted a weak dollar combined with BRICS and world nations following non-dollar trades. So I am expecting $ index to fall and its right time to sell Dollars and Buy Euro and Yen.
(Spicy) Bitcoin Bybit chart analysis january 8Hello
It's a Bitcoinguide.
If you have a "follower"
You can receive comment notifications on real-time travel routes and major sections.
If my analysis is helpful,
Please would like one booster button at the bottom.
This is the NASDAQ 30-minute chart.
This is the movement after the analysis article was written.
During the blue finger short->long switching strategy,
it did not rise to the short entry point,
but reached the green support line in the 2nd section in the 1st vertical decline section.
After that, as I explained,
watch the movement from the bottom to the 3rd section.
This is the daily chart of Tether Dominance.
If it is normal,
It is impossible to break through the Bollinger Band resistance line, center line, and support line at once with one candle
But since it is forcibly coupled to the Nasdaq movement,
Please watch the detailed movement.
If it is normal,
Since only one daily candle is created per day,
Until 9 AM tomorrow,
Since Tether Dominance is attempting to break through the center line with one daily chart candle,
There should be an adjustment at the current location or the next wave.
Because,
As explained above,
In the case of ignoring the Bollinger Band center line with one daily chart candle,
and reaching the resistance line at once,
It is a movement that occurs only once or twice a year.
This is the Bitcoin 30-minute chart.
During the analysis, the Nasdaq vertical decline is in progress,
and it is breaking the major drawing section in real time,
so we will proceed without changing the strategy.
Currently, the daily chart MACD dead cross is in progress for 12 hours,
and unlike Nasdaq, there is still some room until the weekly chart MACD dead cross.
Instead, Bitcoin created a daily chart today,
and touched the support line first, so the downside is open,
so it can fall strongly if it breaks away.
The Nasdaq indicator will be announced at 10:30 in a little while.
*When the blue finger moves,
it is a short position strategy
short->long->short switching strategy.
1. $96,446 short position entry section / stop loss price when red resistance line is broken
2. $94,410.5 long position switching / stop loss price when green support line is broken or section 2 is touched
3. $96,935 short position switching / stop loss price when light blue resistance line is broken
After that, while maintaining short position,
the final long switching strategy was to check MACD main signals and support lines.
As you can see, it is being adjusted without the most basic short position entry point due to forced coupling with Nasdaq.
In order for a vertical decline to occur,
at least section 1 at the top -> 15-minute resistance that has not been touched even once today + 30-minute central line
should be touched, but it is just falling.
The reason why section 1 and section 2 at the bottom are marked
is because of the connection.
If there is a miraculous rebound from the current position,
The blue finger movement path is valid.
Since it is falling without touching the first section from the current position,
the second section may be dangerous,
and the bottom is where the Bollinger Band 12-hour chart support line + daily support line meet,
and the point indicated up to 91.4K is the mid-term upward trend line.
If you can somehow hold this point,
you can take a breather from the long position.
If the MACD dead cross pressure on the weekly chart progresses,
it may continue to shake up and down or repeat adjustments for several weeks rather than rebounding.
Please use my analysis so far for reference and use only,
and I hope you operate safely with principle trading and stop loss prices.
Thank you.
Concerns about interest rates put pressure on BitcoinThe world's largest cryptocurrency once surpassed the $100,000 mark thanks to a prolonged recovery from the late December drop. However, losses on Tuesday and Wednesday wiped out this recovery entirely, bringing Bitcoin back near its late December lows.
Bitcoin fell 0.3% to $96,607.7 at 12:49 AM ET (5:49 AM GMT), after losing more than 5% on Tuesday.
Bitcoin also faced profit-taking pressure after an impressive 2024. Most of Bitcoin's gains followed Donald Trump's victory in the presidential election, as he promised to implement pro-cryptocurrency policies.
However, the cryptocurrency market is now awaiting further signals on Trump’s policy plans as he assumes office on January 20.
December’s Purchasing Managers' Index (PMI) data, while painting a brighter picture of the U.S. economy, also raised concerns that inflation may persist in the coming months, giving the Fed more reason to reduce interest rates gradually.
The central bank downgraded its rate-cut forecasts for 2025 in its December meeting, citing concerns about persistent inflation and confidence in the labor market.
Fed officials reiterated this message earlier this week.
Prolonged high interest rates are unfavorable for speculative assets like cryptocurrencies, as they limit the liquidity flowing into this sector. This trend hurt the cryptocurrency market throughout 2022 and much of 2023.
CFD Trading Strategy with BTC
The larger trend on the H4 timeframe is showing the formation of a parallel descending channel, with strong bearish candlestick closures on both H4 and D1. The analyst's view remains to wait for price retracements to key resistance levels and main FIBO levels to look for SELL opportunities.
SELL ZONE: 96,750 - 97,250
SL: 99,000
TP: 94,000 - 92,500 - 90,000 - ????
Strictly adhere to the Take Profit (TP) and Stop Loss (SL) levels to ensure account safety.
GOOD LUCK!
Bank Nifty Update Bank Nifty (also known as the Nifty Bank Index) is a stock market index that represents the performance of the 12 most liquid and large-cap banking stocks listed on the National Stock Exchange (NSE) of India. It is a part of the broader Nifty 50 index, which includes 50 of the largest and most actively traded stocks on the NSE.
Key Details about Bank Nifty:
Constituent Stocks: The Bank Nifty index consists of the top 12 banking stocks, which include major private and public sector banks in India. Some of the prominent banks in the index are:
State Bank of India (SBI)
HDFC Bank
ICICI Bank
Axis Bank
Kotak Mahindra Bank
IndusInd Bank
Bank of Baroda
Yes Bank
Federal Bank
Bandhan Bank, etc.
Metal Index: Ascending Triangle Broken, Testing Support LevelsDescription :
The CNS Metal Index recently broke below the 5th pivot of an ascending triangle pattern. This signals a potential bearish shift in momentum. The next key level to watch is the support zone around 8100. If this level is tested and broken, it could indicate further downside potential.
Traders should watch for confirmation signals, such as increasing volume on the breakdown or a sustained close below 8100, before making decisions. Conversely, if the index rebounds above the broken triangle line, it might invalidate the bearish scenario and suggest a consolidation phase.
Disclaimer :
This analysis is for informational purposes only and does not constitute financial advice. Always conduct your own research and consult with a professional financial advisor before making any trading or investment decisions. Trading involves significant risk and may result in substantial losses.
Wonderful Bullish H&S breakout1. In a long term uptrend as per 200 SMA.
2. In accumulation phase for last 3 months. Have made a wonderful bullish head and shoulder pattern.
3. On day TF, it has given a breakout today with closure above previuos resistance leve with higher volume.
4. Entry can be made above high of breakout candle; Entry: 796; SL: 766; Target: trail as per 9 EMA, as it gets into profit.