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THIS IS NOT FINANCIAL ADVICE.
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Federal Bank has been a deep correction since Oct' 17. This correction may have ended as a double combination correction. The possibility that the double combination correction may evolve as a triple combination correction has been eliminated as the prices have crossed the crucial 105 level which was the high of the X-wave of the double combination correction.
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This is based on the book by Laurentiu - Price action breakdown
As you can see in weekly chart , it was in initial downtrend phase
In the downtrend phase there was a clear lower high , lower low pattern
The downtrend turns into an uptrend when price makes and confirms a higher low at the lower right side of the chart.
That higher low is only confirmed by the...