DMART ALART PRICE DROPI know it looks complicated but the viewers need to understand. I will try to explain at my best
(A) is showing bearish bump and run trend reversal pattern
(B) is showing bullish price channel continuation
(C) is showing bullish inverted head and shoulder trend reversal pattern
(D) is showing target price (Target 1)
As I went through ideas a lot are talking about head and shoulder and it shows uptrend will start now but
If you observe (A) it's creating a bearish bump and run trend reversal pattern in which the thick line shows the possibility up to which rates can go and the rectangle shows the supports
If you observe (B) it's showing bullish price channel continuation according to which the price has to move in bullish if it crosses the upper price channel line and the target is up to rectangle (D)
If you observe (C) it's showing a bullish inverted head and shoulder trend reversal pattern which is created inside price channel pattern but both price channel, head and shoulder are showing the same target area of (D)
Now what I'm saying is on 14/05/2020 earnings are expected to release, and the strong (A) bump and run is pulling down the rates. If it happens so then the head and shoulder will not work and the price will fall taking support at (A) rectangles and it will bounce back. when it crosses the price channel (B) upper band you can buy expecting the target price of (D)
So don't go with head and shoulder wait for the price to cross price channel upper band then with confirmation and bit of your studies buy
Any doubts or suggestion ping me
