PFC bounced from daily support with good momentum,We will wait for clear uptrend continuation sign for enter.
We can see price bounced from support and there is a seller trap signal also, buyers are controlling the overall market so there is not a single doubt about the trend.
we discussed our analysis on 23rd may and on Friday I have got the buy signal and today we can see price is going in our favour now we will wait and manage the trade.
Price dropped after making a new high with momentum and you can compare this correction with previous corrections, Sellers are taking control on buyer so we will look for sell only.
This is a very good structure of early trend continuation, Try to learn who is controlling the market buyer or seller, price action is not only candlestick patterns there is much more.
Explain everything on chart, just wait for price to come near 50 or 61.8 fib level.
SHRIRAM TRANSPORT was trading on the top but we can see price drop from top after Divergence with good momentum and support also broken,So now we need to wait for sell signal to enter,Do not enter without confirmation signal.
Waiting for entry setup is too hard,Let the market give you possible signal for entry,don't make setup by yourself and Don't try to take every setup, Spend time on chart to see which setup works most of the time and trade on only that setup and avoid all the garbage from your mind.Make trading simple otherwise it will be very frustrating business.
ITC trading in the range whole may month but finally we got the breakout to downside,Now wait for sell signal. reasons to sell:- 1- LL LH formation 2- trendline Break 3- Support Break 4- Price can not make HH after Divergence.
KOTAKBANK broke the up trendline and we can see price clearly break near support, now we need clear signal to go short but do not enter before confirm sell signal because Actual trend is up,So we take trade on A+ setup only otherwise we will not take this trade. Reasons to short:- 1- Trendline Break 2- Divergence Signal 3- Support Break.
BANKBARODA bounced from daily support and we can see the divergence in bottom, In 1 hour buyer trying to control the price,Once we see HH HL formation then we will look for buy only.
YESBANK trading in sell zone with LL LH formation,If we see any sell signal below support zone we will look for sell but if price break the upper trendline and price start making HH HL then we look for buy.
NZDCAD broke the resistance zone and trading above the zone its good to buy
USDCHF broke the triangle and trading below the range so its good to short with very small sl
HINDPETRO broke the resistance and trading above that zone and we can see the buyer holding the level but don't take trade on support resistance only, closely watch the price and once we see full control of buyer take trade with small sl and in this case there is a local trendline in place wait for break of this trendline with momentum.
ADANIPORT already broke the support zone and trendline with momentum, so this is very good sign for technical trader,For entering into trade we need a price action sell signal.
AXISBANK trading within the range(you can see in the image) from feb 2018 and buyer tried to broke the resistance zone but seller are taking control and we can see the LL LH formation,If we got clear price action signal to go short then we will attempt for sell otherwise we do not take trade,Always create a pure mechanical rule to enter and exit.
There is a very good price action structure in TITAN,Price close below support of 950 and seller controlling the price so this is very good sign for sell continuation,We will look for sell once we see the break of counter trendline with momentum or any price action signal.