Entry 508 to 515
Risk to Reward ratio is looking very good , very less to loose, Stock last Friday closed at 510.20 which is in the demand zone , Stock may bounce back from this point.
Two Screen System (W and D) Trend, Momentum, Volatility, Volume
This system will help reduce the clutter and present a multidimensional view of price behaviour.
Not trading advice, I am still a learner and trying to build a system which works for me.
Monthly is clearly bullish with great momentum candle breaking out of the monthly resistance. A double bottom can also be spotted.
Weekly too gives a positive picture. Price has broken out of the resistances and smashed them. A pullback from this nice uptrend can be seen to test weekly...
Monthly: After forming multiple dojis, the price broke below the weak support indecisively. A weak hammer can be seen forming in Oct. A little bounce to test that zone can be seen this month.https://www.tradingview.com/x/XNU8hQTy/
Weekly: Price is making LHs and LLs. Last two candles show rejection of resistance.
With a bearish bias established in Britannia through my earlier post ( ), I am seeing an interesting intraday opportunity to short at the opening today. In 15 min, there is a good upward rejection of EMA and Pivot. EMA crossover has already occurred and trend is on our...
In monthly, a pullback to test monthly resistance in a nice downtrend can be seen, which gives us a potential short assuming that the trend is not yet exhausted.
Weekly is in a nice downtrend since many months now and a doji has rejected the monthly resistance which is negative again. However, we see a TL break with big...
Clear uptrend in Monthly. Wide negative RSI Divergence is an issue here. Weekly shows a tight range, no conclusions. Daily creates a Descending Triangle. Will look for downward rejection candles and a break above Triangle in Daily to enter long with SL of 1540.