Gailanalysis
GAIL LONG I hope you can now see how Gail represents an excellent low risk profit entry setup allowing you to trade in the market. Take positions so that the risk/reward is in your favor.
Knowing why, where & when a strong reversal signal is being generated will be the only way to capitalize on your technical analysis .
Thank You
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GAIL SHORT TERM TO POSITIONAL IDEAGAIL has been showing good bullish momentum since past 3 weeks (Check weekly chart).
Price has now come near to resistance area, but there is a gap of 2-3 points which needs to be filled until a trade can be executed.
I only go long in stocks which are trading above their 50EMA and GAIL has recently crossed that level so the trend is in our favour.
Risky traders can enter above 97, but for proper risk management I will enter only when the gap is filled.
Here's the indicator analysis :
I am still trying to figure out a good setting for ADX. Here, I have used ADX(8) with DMI(13).
And,as to why I am not interested in the trade right now near these levels is because the upper close of the gap is also a 50% fibo level as shown in the image below :
GAIl - Positional Long if breaks the Support of 82.5GAIL has formed a W pattern on Daily TF.
82.5 was monthly support that got broken, and is now acting as resistance. same has been tested more than 4 times on 75m TF.
if 82.5 is broken by a clear Covering Candle on 60m / 75 m TF - Can go long positionaly with 82.0 as SL.