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Trendreversal

Trade setup with fibonacci This setup is on daily timeframe. Stoploss at 0.38 level i.e. below the resistance line of pattern which should act as support now. If the 0.61 level is break the we will get the confirmation that the trend is changed. The uptrend will begin and 52 week high will be our major resistance and the target too. Because it's 52 week high it's strong resistance, so to go a little safe I will plan the target little below it. The RR ratio is not that pretty. It's 1.27. An example of price action analysis with fibonacci. This post for educational purpose only.
NSE:IDFCFIRSTBLong
by AkshayAdak
BPCL trend reversalBPCL was in a very clear uptrend from 22nd December... after that yesterday it formed a green candle with small wicks, today it opened gap up but could not retain the price and closed deep into yesterday's body. The encircled pattern is called Dark Cloud Cover. As the name suggests, a downtrend is expected after the appearance of this pattern. You can keep a target of the 200-day exponential moving average. The stop loss will be the highest high among both the candles forming the pattern. In this case, the highest high is the high of the first day (green) candle.
NSE:BPCLShort
by nandodeomkar
Long position in swing 🚀🚀🚀Looks like the support has been taken from the channel bottom and it is swinging up now. Good long position can be taken. 🚀🚀🚀 ==================================================================================================================================================== Disclaimer: The information provided here is for educational & instructive purposes only. Our intention is not to provide any financial advice, investment advice, training advice or any other advice. This is general information and is not explicit to you or anyone else. Please do your own research and consult with your financial adviser before investing or trading. We will not be responsible for any profit or loss.
NSE:INDIGOLong
by MyTradingJourney