ICICI PRUDENTIAL LTD 1W One week timeframe crucial level in ICICI prudential Ltd it's formed symmetrical triangle check this level and trade this long either short
Longorshort
btc the daily horrible analysis lower prices look very real hi guys
just a quick overlook on the daily btc chart from ath horrible sight to see three bear flags one after the other inside of a falling wedge since atheach time we broke previous flags we had near enough the same drop of around 45% we have broke out of our latest flag are we going to see another 45% drop in price to the 14k mark its possible given the conditions we are in or even are we going to see a double bottom form at 17k then bounce do i think the bottom is in i dunno it looks unlikley whilst weve been in our recent bear flag we have had a msb creating an order block just below bear flag we are in that ob now and testing the .38 trend fib from recent drop from previous flag 19k is critical for us i think over the next week im hoping we can bounce if we do bounce id think we will make are way back to the top resistance level of bear flag not all at once also an inverse elliot wave predicts this move too hopefully bulls come back and sort the job out
or are we just clutching at straws
thanks guys scopes
HCL TECHNOLOGIES.... TO GO LONG OR SHORT?We can see the script getting rejected at the level of major resistance on multiple occasions.
The recent long green candle at this resistance level was considered a good breakout by most traders.
Points in favor of a pullback,
The breakout candle was followed by a bear candle of decent size. The follow-through from the breakout candle is not good, indicating huge selling pressure.
This is also confirmed by the higher volumes in the red candle than the breakout candle.
There is also a bullish divergence in the RSI pattern.
Points favor of a breakout,
The red candle is still above the line of major resistance.
The script after getting rejected from the resistance level a few days back didn't fall back to its support zone (around 900) but is trying to break the resistance again. Multiple hit at the resistance line is likely to weaken it eventually breaking the resistance soon.
So, now breakout or breakdown?
We should wait for one more day and the next candle will decide the course of action. A long green candle can suggest a long trade and a Doji or hammer or long red candle suggest selling and rejection in the script.
Happy trading!
