Confluence or High Quality trading is where 3 or 4 technical signals merge with each other.
BINANCE:MAGICUSDT showed up a nice confluence with FIB Levels, Exponential Moving Average, Trendline break and all that at Support zone.
This High quality trade is what a Daytrader should always patiently wait and look for.
All my level are marked in the picture. Let's...
Good for Intraday 07 Feb 2022 and Swing as Well. For intraday it is making a bullish flag pattern so we can look for long move depending upon the market trend and for Swing the Script has retraced from FIB Level.
Pink lines - Fib levels ...
Price gave closing above .618 level, If he crosses high of hammer candle we will take entry.
Targets are as shown in the graph and if the price crosses an all-time high there is also one more target.
Were taking entry on the basis of the support zone of FIB level and Hammer candle and there is a big support of 200 EMA.
DrReddy is getting support at 0.618 fib level and the traded volume is also decreasing. In 1-2 days we may see a spike in volume and which will start another bull run. It is also forming a Flag and Pole pattern. If Flag and Pole breakout happens than Target is 5900++ in coming weeks.
Shorting Nifty Now ?? That too in this Bull market ??? Yeah... If they get aligned and validate My rules I have no hesitation to short the Nifty. I'm looking at few rules I have,
(i) Fib level reversal ( Yes) Golden Ration 61.8% in Resistance zone
(ii) Resistance zone - Yes
(iii) Fib extension confirmation - Yes
Waiting for Bearish price action confirmation to...
