Supply_and_demand
Evening StarAnother reversal pattern at important juncture,
It seems like profit booking has occurred at supply zone.
Evening Star formation :
The support holds at low of first candle and same level has been tested today
17300-350 level is the point of the control zone , it has maximum volume spread.
Price pattern has created a confluence zone ,
It would act as strong support but if it goes below it, heavy selling is likely to occur
Nifty AnalysisNifty retracing back after kissing 18,000 levels and breaking 1hr trendline. Gaps made between 12-16 August & 11-12 August are also filled today. Nifty spot is currently at support zone of 17480. Bounce from current support level will take Nifty to 17700, while a breakdown of this support can take prices to 17200 and below.
Basing and Breakout formation Basing : Its accumulation phase where smart money comes in, it acts as a base.
Here price may follow the previous trend or shows reversal
Always take partial position, don't get trap by infusing entire position.
Volume activity remains low and you may see some heavy buying at support.
Psychology : participants are not ready to participate actively, it lacks enthusiasm.
Breakout phase :
Here, It may break the support or resistance The bigger the base, the stronger the rally can be.
If it breaks resistance add up your position and if it breaks support cut out your position.
Psychology : Here you will see the moment in price activity with higher spikes in volume.
Here they get the direction.
#EUR AUD # SELL PLAN I am looking to sell EUR AUD below 1.48800 and targeting to 1.48000 price broke major structure and continuation of down trend and also liquidated previous high and expecting an drop. we have a nice previous support on below 1.48000 and rest of stoploss must need to be a liquidation.
$CAD CHF $ possible buy forecast I am looking to buy #CAD CHF# this week,, Expecting an retracement 0.75000 and continuation to the upside. We have confluences with major HEAD AND SHOULDER reversal pattern and price broke major resistance level and closed above with support and creating strong resistance with rejection. thanks.






















