Long Nifty on break of 2x1 gann fan and price close above fib retracement 61.8% level of 10437.7
Aggressive traders can enter as per above
Conservative entry would be to wait for follow-through above the break of 10437.7
The script lost close to 50 percent of its price from the beginning of this year. After falling near to 250 levels prices have been consolidating with an upward bias. If the upper end of the current consolidation range is broken the prices can test 340-360 on the upside. However it remains to be seen whether the prices will be able to close above these levels...
I have used the GANN FAN to analyze support & resistance. There is a shift in the channel (The price have moved to lower channel)
In this analysis, I have taken 45* as it is considered most crucial.
In the last trading session shooting star was formed which is a bearish candlestick.
Bitcoin sideways movement for almost a week.
Are you still worried on deciding whether it's the uptrend or the downtrend ??
This post uses some simple technical analysis with the tool "Gann Fan".
When the price action takes sideways movement for a while, and didn't respect the drawn trend lines, use Gann Fan, which will show what's...