RELIANCE Levels // 15 MinReliance Industries has been following 87-period time cycles on the 15-minute chart quite effectively. Combining these time cycles with price action provides a powerful setup for understanding when to take trades. Let’s break it down:
Time Cycles: The 87-period time cycles on the 15-minute chart indicate that Reliance Industries tends to turn upward after every 87 periods, resulting in significant trending moves. This can be a valuable tool for intraday traders.
Price Action: By analyzing price patterns and candlestick techniques, traders can enhance their understanding of market dynamics. Remember that focusing solely on prices or indicators without considering time can lead to failed breakouts.
Application: While this technique works well on the 15-minute chart, you can also apply it to daily charts or higher time frames for more substantial moves.
