I am in this Swing faillure pattern trade right now i have seen 2 steps of confirmation. the 3rd one is change of market structure and the SFP is completely confirmed.
my next trade idea is to short the weekly level that is very strong. in confluence with the Vwap + VAL Of fixed range ( Not marked out). i will enter into a short when i see the proper reaction...
NSE:MGL
Today MGL RSI shows bearish divergence. Couldn't break the 1190 resistance levels.
Stock was trading sideways and with a bit higher high formation but the RSI was making lower highs. This is a sign of weakness in stock.
Stock is not ready to go up at this moment. One correction is still required.
Keep tracking of this stock for tomorrow as MGL...
Hindalco Ind. has consistently been honoring its resistance level and the support level.
Higher highs and higher lows showed since 25th February 2021 indicates the uptrend for the stock.
Bullish Engulfing candlestick pattern formed at the resistance level with the increasing RSI and recently occurred MACD crossover could be interpreted as the indicators for a...
Stock trying to break the major resistance with high volume , if it breaks the 100-101 resistance level we can wait for some lil bit or correction or can enter for short term gains , it will go up to the range of 150 & more . Simple price action .
Catching the pattern before it is formed is of key importance if you trade on technical analysis!
Descending triangle and head and shoulder in 15 min time frame
plus
inverted head and shoulder in longer time frame
these gives multiple confirmation for the short signal on colpal
Nifty may open negative.
resistance 15900
support 15575
Note: If you find any corrections in chart/idea please let me know.
It will help me to improve myself :)
Global markets are having negative sentiments.
Banknifty expect to open negative.
Note: If you find any corrections in chart/idea please let me know.
It will help me to improve myself :)
