TI - Channel patternTI taking support over lower TL of the channel pattern. Looks good with a 1:3 risk-reward setup. Swing traders can plan risk and trade this.
Priceactionvolume
Price Action with clear picture of Volume on DRREDY: ------------------------------Price Action vs. Volume!------------------------------------
Let's talk on the left to the right side:
6th and 5th candles : wide body with normal tail and 3x volume which means buyers .
4rd Candle, Volume less compared to 5th and 6th candle and price falling: Clearly showed that something is cooking a nd till price can move up because of abnorma lity seen wi th volume. Buyers are started booking profit!!!
3rd Candle: Tail in both sides, the volume also validated and clear its was profit booking started who has bought.
2nd: Upar wicks and price closed nearby opened which indicates that sellers ready to sell if they get chance.
---> We are ready for U-turn
