After hitting the mark of $65, crude oil is consolidating in the form of a bullish flag pattern.
Two legs of the flag pattern has completed and it is currently at its third and final leg.
Although, we expect the flag pattern to render a bullish breakout, for now, we expect a movement to the resistive trendline only.
FB formed a double Bottom from 11/18 to 02/19 which was confirmed by the succesful breakout on 14 january. Fueled by the earnings Reports on 30 january FB had a big upside gap. Now we have breakout of the consolidation and so we have further updside potential.
Profit Target 215$, Stop loss 165$
2:1 reward : risk ratio
The pair is confined within the ranges of 1.57393-1.60778 for the past 2 months.
It can be construed as ABC correction and the pair is assumed to in bull cycle.
The value of 1.57393 provided strong support to the counter and it reversed the pair from the downtrend.
A double bottom pattern formed at the formidable support of 1.57393 is actually the wave 1 and 2 of...
The pair has made a double bottom in the hourly chart.
It can retrace to support at 1.03147, for now, which is a good entry point for long trades.
We expect the pair to move to the resistance at 1.03523.
Ashok Leyland has formed double bottom and showing signs of reversal. It has a reasonable PF catching the price frequencies and is available on the LML offering a good entry. It has formed a double bottom with divergence on MACD which is quite reliable setup. Heiken Ashi has turned to Green also. One can buy the stock with the following details
Entry current Price...
First Sell - Later Buy
12:56 Hrs / 31st Jan 2019
Do read the update carefully & manage your risk while trading. As trading derivatives is highly risky.
Facing Resistance Above 10750 levels & Suggested in all the status updates that we shall be careful in 10730-10750 zone & holding above 10750 only we will look for 10790-10800 next resistance...