Note: Always try to find a good price action patterns or any candle stick patterns in marked zones in smaller timeframe to take entry with small stop loss. Or can take entry based on one 5 min candle close below or above the zone with SL previous candles high or low (*try to avoid big candles) . (Color code for Support & Resistance zones: Red - Sell, Green -...
Chart analysis for the day of MCX Crudeoil based on new strategy, it is purely a learning purpose.
Description : Crude at lower levels following support area and a trendline zone as well. At top upper parallel levels of trendline are followed. Now at top and formed a strong red candle which can a be probable top if it gives follow through and breaks 86$ level. Support Area : Break of Support at 86$ downside will lead to immediate support at 76$ followed...
Double Top - Bearish candles expected in the upcoming days if the demands are lowered. After the double bottom the market has showed a steady up trend rally. Same way now Double top has been formed. This has happen before and again its showing a strong double top , Hence down trend rally is possible if the demands are lowered. Given is my personal analysis.