On day chart
Bitcoin has soared and plunged with high volatility in range $45,8xx and $41,000
Bitcoin has important support at $40K and Supply Zone around $47K that's why Bitcoin's dropped
With the last bullish candle has upper long wick, I think this is a Fake Breakout and it can create Reversal Pattern #HeadShoulders to pull Bitcoin back to $35K
Wait and...
Attached: SBILIFE Daily Chart as of 21st April 2023
For the Levels, it is already marked in the Chart (SELF EXPLANATORY)
Stop Loss > 1136
Downside Target 1= 1074
Downside Target 2= 1054
For the Thesis as to why it is a SHORT:
- the 17th April Candle was a Breakout Candle that turned out to be a BULL TRAP Candle, so all the Bulls that entered got Liquidated as...
Fiem Industries gave a fake breakout in september and this was immediately visible based on the selling that followed the breakout with heavy volume. But the stock gave a breakout again in November & this time it was successful. This time, the successive candle did NOT indicate significant selling. In fact, there was simply no selling which means that there are no...
Bank nifty congestion zone Don't enter if it give breakout
directly without consolidationbelow trendline.
Market never give direct braekout
it could be a buyer trap
Cipla was in a good sideways range and the broke above with momentum. Price then retraced towards the breakout area in a good consolidation and now broke below the consolidation. There is a good opportunity of a bullish trade if price gets back into the above consolidation, thus forming a fake break out.
I would suggest to enter only if 1 Day candle closes inside...
HDFC (Daily) - Head & Shoulders Chart Pattern
Possible top fishing of the right shoulder
Seems to be the start of C wave
MACD downtick in daily and weekly timeframes (wave and tide)
Stochastic 14,3,3 is in negative crossover
-DI is above +DI and the ADX is above 15 in the Directional Movement Index (DMI)
Fake breakout of the 50 ema as well
Target 1 -...
Nowadays as CRYPTO ERA is going on and we all are watching many ALTCOINS skyrocketing for no reason and most of the people out there are watching it and feel like they are missing out on great opportunities and then suddenly come into the picture to capture some quick gains due to FOMO and by the time they come and participate small shakeouts starts happening and...
This is simply an educational video, starting from the basis of entry till the exit point of one really good setup based only on price action and price reading
👑 Terms used if you don't know :
✣ Contraction pattern: A pattern starting with a broadening high candlestick and low candlestick and converging to a fixed point, these highs and lows created in between them are bulls vs bears fight going on inside the pattern and if it comes to the lower part of it, surely bulls will take it to the topmost point and vice-versa...
👑 Terms used if you don't know :
✣ Contraction pattern: A pattern starting with a broadening high candlestick and low candlestick and converging to a fixed point, these highs and lows created in between them are bulls vs bears fight going on inside the pattern and if it comes to the lower part of it, surely bulls will take it to the topmost point and vice-versa...
NSE:UBL
as per my experience the above break out from resistance zone which now turn into support zone after break out, thus is fake break out as per my experience.
