GBPUSD/If wave (b) of B is finished - x3 forming - Short!!In cycle, A upward wave (5) ends with a terminal impulse of 1.36194. Hope thrust reveres back to at least
1.34687 to 1.34295/1.34033 and completely retracement at 1.31839 referring to terminal Impulse effect
or around 38.2% to 50% of the former big cycle in 4h time frame chart.
1h time frame wave (a) assumes finished, wave (b) is unconfirmed but the price already touches the 50%
Fibonacci retracement of wave (a). In case that wave (b) is finished, I predict the next move is going to be
wave x3. of wave (c) aim for 161.8% of wave 1. which is the same target at 50% retracement of the big cycle.
So how to trade?
Wait for confirmation break down at 1.34687 and pull back if the price doesn't come down it means to wave
2 is forming complex correction or wave (b) of B. is not yet finished I will switch to bid when the price is
breakthrough 1.35140 level and the target is 1.35465 cut loss at the support line.
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Firstchart
Spice Jet Technical chartThis is the chart I drew on 12-11-2020 and as shown with perfect technical research the stock yesterday touched the resistance line and there is huge selling pressure at Rs 79 and today it raised but with more pressure, a red candle is formed.
RISE OF A DOUBLE TOPSun Pharma
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DOUBLE TOP __1 day chart pattern
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APRIL 27 tested a new high (504.80) and failed to break it. Almost after month+ it has risen above to its Previous HIGH.
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I would go SHORT around " IF THERE IS ANY RESISTANCE AROUND IT'S PERVIOUS HIGH OR IF THERE IS A SIGN OF A NEGATIVE CANDLE
( HANGING MAN ) IN THE NEXT FEW DAYS"
TARGET__ 475- 450
STOP LOSS __ HIGH OF THE RESISTANCE OR THE RED CANDLE YET TO BE FORMED
WARNING -- GO SHORT ONLY IF THERE IS ANY STRONG RESISTANCE AROUND PREVIOUS HIGH 504 (+3,-3) RANGE.