Price rejected at the upper parallel of the blue fork, which is a bearish sign. The Magenta Fork is a "Reverse Medianline". It has a lot of touches, strengthening its validity. I would look for the next buying opportunity, if at all, at the lower parallel of the Magenta fork or at the medianline of the blue fork. If not, price at least has to reverse the...
ITC did a correction with the marked in green ABC. Then it had made a 5 wave move up and a zig zag correction marked in blue. We can expect wave 3 to end at a 138% or 161.8 % projection of wave1, which is 300/- or 320/-.
Long near 244-243 with a stop below 241 offers good RR for a bounce in this counter.
With Bearish Cypher with PRZ delimiter at 276 ITC showing weakness in weekly charts. confirmation below 248 Target 232/212 SL 266 short only below 248 its gonna be a big trade as its weekly Tf pattern
I really don't know what to write in description, everything is in chart itself. I'm really bored with Fx markets, thats why posting equities :) (i) Enter after valid confirmation only (ii) Use tight stops, if we are wrong on direction, Tight stops help you to cut down loss (iii) Check your risk & trade plan once before entering the trade If any specific doubt...