High Probliblity of SPIKE for GAIL.
Price is trading at a " value high ".
Suppose to extend price rotation as drawn in the chart then Spi ke is ready.
The 30min can close above 148.7 then, 90% chance to make spike for targets 151.5 and 152.25.
While Spike volume should more than average volume , for instance, 2x volume will confirm the spike.
Support at 147
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Price Rotation is used in technical analysis to describe the movement of a stock's price within a well-defined small area.
It is generally caused due to trader indecisiveness
Price movements are broken upon major news.
The price rotation is the fair market value.
Price-Rotation :
The Price-Rotation or up and down movements that travel from the value area high to value area low and back. Of course, with the sellers being in control and pushing the price down slowly, we do not get to have all the price rotations at the same price level over and over again as it happens in value areas where the price is moving completely sideways due to the perfect balance between supply and demand .
Those type of value areas will offer extremely powerful support and resistance areas for future price action . In the case of the shifting value areas, price spends less time at one single price area. However, we will use these value areas to construct a bigger price structure that will give us a huge opportunity to succeed in the trade.
I WILL WRITE ON THIS TOPIC VERY SOON: The difference between true breakouts and false breakouts, how to use price action, volume activity, and different time frames to confirm the breakout, and how to trade them correctly. What is penetration and why we use it?
