SOL 1-hr. Chart Analysis
Basically, Schiff's Pitchfork have three lines, and each line starts from one of the pivot points. The lines are called the UPPER LINE (UL), the LOWER LINE (LL) and the MEDIAN LINE (ML). The pitchfork is intended as a quick and easy way for traders to identify possible levels of SUPPORT & RESISTANCE for an asset price RANGE.
This cycle...
Schiff Pitchfork
Since TCS has already fallen below the 0.5 line of pitchfork
It is possible to touch the next level, blue line.
It is also possible for slight retest before breakdown.
Short Entry is possible below yesterday's low at 3385.
SL is at the Pitchfork 0.5 line at 3397.
Maximum target is higher at around 3290.
However, it has already fallen too much....
Schiff Pitchfork ML play + traditional pivot and fibonacci systems used to find levels....
Kumo cloud of ichimoku is provided in the chart which is derived from the weekly chart..
There are 2 possibilities of the track of the price action to go, we will have to watch how the weekly pivot is held/broken...
If the weekly pivot is broken the daily S3 support is...
1.Reciprocal Bullish ABCD formation almost complete near the weekly support S1
2.Reversal to be impulsed back to the Median line of the pitchfork according to Price Magnet Theory
3.Several levels including weekly resistances and Fibonacci levels of BCD 0.73% , taking D point in the weekly support S1 , has been taken in correspondence to the pitchfork
4. Bullish...
GANESH BENZOPLAST 1D BSE Present situation...
1.Symmetrical triangle
2. Last uptrend rejected by the Kumo Red resistance cloud and heading downwards
3.Last stupport was taken on the weekly pivot level
4.Impending triangle breakout, marked by nearing apex and lower volumes inside the triangle...
Symmetrical triangle breakout..
Bearish breakout is likely die to the...
NSE:JISLDVREQS BSE:JISLDVREQS
Present scene..
1.The Kumo cloud in the weekly will give temporary support to the falling prices ..
2.The Price action is present between weekly support S1 and weekly pivot
3.The 0.283 arc support
4. Median line of pitchfork , price magnet theory..
5.Fibo support of 0.5BC of the Reciprocal ABCD...
Why crack down expected......
NIFTY monthly chart as seen after drawing SCHIFF PITCHFORK .
WE can observe few things here:
1) The median line is very strong support and candles in the past clustered around the median line before a bounce.
2) Whenever Nifty went to the +50% line (upper half) it reversed. It happened 2 times, i.e late 2010 and early 2015 (marked for your reference)
3) Most...
