Previous resistance becoming support
go long above high of doji with sl low of doji
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial adviser before taking any trade.
This one's a bit complex. Please bear with me!! I'll try my best to explain.
MFSL has been trading inside a channel since March 2020(Covid Crash). Based on the stock's movement, a new trendline apart from the channel trendlines has emerged. We can see that the stock has been taking support from this supporting trendline since August 2020....
As I always say that Harmonic Trading strategy is all about reversal trading. if you know how to trade on reversal then only you can and you should trade on Harmonic patterns.
as one can see that there are two Harmonic patterns on this MFSL chart it shows that This reversal zone might be more strong then usual one.
As per this harmonic pattern chart...
In Continuation of learning support and resistance on Chart.
Today take example of Chart of MFSL which can be seen as Beautiful example of learning support
how breakout can be find out from the CHART
here tomorrow this stock seems to be moving after consolidating since long back.