The market Started the October Series, with a (1.Low Volatility Test Reversal)
Then It Formed a (2. Potential Trend Change) Pattern
Made a retest for 17500 at (3. Effort Up) and (4. Effort Down)
And Till Today have given two positive Followups (5. and 6.)
So What is the Dominant Direction Here?
For me Logically is the Long Side
How i think prices will...
All Levels Mentioned On Chart
How to trade the setup?
When the chart says Long or Short at particular level, Put a Stop Order at those levels, Levels are strict
T1 : is Target 1
T2 : is Target 2
When you achieve your first target, book profits of 50%
and shift the stops to the cost
The term Catastrophe Stop, is a maximum movement of price that can happen in...
Three signs of strength witnessed on this chart:
1. Shortening of the thrust -- Price breaks the lows but there is not much follow through.
2. Ease of movement in three up waves as price bounced back from 14250 support zone.
3. Higher lows formation under 15000 as psychological flat resistance zone.
Two signs of weakness:
1. Price breaks out of 15K zone, which is...
What is Happening?
In previous 3 days,
We have encountered these two Signs of Weakness in the market.
1. A No - demand situation, where price spread decreases with the decrease in volume
2. A Thrust based test of the level 15250
Sell on low of next the red bar
which happens below 15240
and Target 15085
This post is for an educational...