Priceactiontrading
Ashok Leyland: Trend analysis (Short bias)Weekly Time-frame:
After making bearish pin bar last week, this week ended with strong bearish candle. (Short bias)
Daily Time-frame:
Few days ago, prices made a lower high then broke the upward trend-line which signify possible trend change.
For further confirmation, analysed intra-day time frame i.e. 4H.
4H Time-frame:
After breaking upward trend-line on daily time-frame, prices broke the immediate support level with the momentum and made a lower low which confirms Down-trend . Then made a lower high which took resistance from same level (above support level) and also from 50 EMA.
Conclusion: This price action on every time-frame confirms short bias so one can initiate a short trade with stop-loss above recent lower high keeping own risk to reward ratio in mind.
ADANIPORTS , Good candidate for SHORT (Learn & Earn)ADANIPORTS -
This study is purely based on simple price action
tredline pattern analysis.
Price action is very simple to understand and main focus is price/patterns. Keep your chart clean and free from indicators, follow same process daily to get good results.
If you wish to learn simple price action trading process (strategy seekers kindly excuse), kindly reach out.
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NIITTECH respected FIBO and Making Rising WedgeNIITTECH respected FIBO at 0.6 level moved its direction to downward, if price will cross 0.5 level of FIBO then it will good candidate for short and if price will cross 0.6 level then it will be good candidate for long.