After a particular maket move, prices retrace a portion of previous trend before resuming to move in the original direction.
These counter trend moves / corrections tend to fall in certain predictable precentage parameter. The best knows - 50 % RETRACEMENT.
Besides 50% retracement, there are also 1/3 and 2/3 retracements.
This chart is current uptrend of BTC...
retracement 0.5 tested, cross above that can see 115 on chart
oscillators support possible for rally
overall market support possible for rally
entry on close above 97.5 with stop as comfort for target 115 +
disclaimer - for study purpose only.
PLEASE WATCH MY ANALYSIS ON INDEX TO GET MORE CLARITY ON MY ENTRY. (Available in my profile)
1 Day Timeframe
- Good breakout, retracement + bullish candle
1 Hr timeframe
- Good trendline formation
15min
-Consolidation and breakout. Chance for a small retracement.
MY ENTRY ONLY IF
1hr candle closes above prior high + Nifty bullish indication (Please watch my...
Stock is at 50% retracement.
It also looks like the bearish power is decreasing.
A good upmove is possible for one or two months.
It will consolidate a bit and then give breakout.
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OANDA:XAUUSD
2350 2360 as expected has turned out to be a Stronger selling zone.
And it has been respected beautifully as of now.
Retracement May continue till 2270 Zone
Only Below 2270, Bearishness could intensify.
Although this correction is to be treated as retracement only.
Gold may bounce back even before 2270 depending on price action.
Sell on rise...
Pondy Oxide after a rally has corrected to 0.61 retracement levels and and a bounce from the support levels. Above 850 levels confirmation of breakout.
CMP 760
Target : 1050-1100
Stoploss: 660
Very bullish move in the price and small retracement with decrease in volume while price godown.
A doji tells that price has stopped moving down and next green candle confirms bulls are in again.
A small retracement with decreasing volume also could be profitbooking is over and bullsvtake charge fromvhere.May go long with good risk reward ratio.
As we can see NIFTY fell unidirectional till our mentioned levels exactly as analysed in our previous analysis that NIFTY would be weak and needed a healthy retracement but it closed below 20000 level which should have acted as a SUPPORT. Now we can expect NIFTY to show strong move from here in the first half but it will be interesting to see if it sustains itself...
We are seeing that Nifty benchmark index is trading on strong support zones so what we expect from here that it could do a bounce from support zones for the retracement to resistances or the given targets above resistances or can do a pullback after support break for the given targets below from support.
Idea One- Took a trade from current price and close to...
