ICICI Bank 26.2.2017
Buy Stop order
Current Price: 285.25
Entry Price: 301.40
Time Frame: Monthly
Type of Trade:
Long Term Trade
Reason For Trade:
Stock is in an uptrend
In the month of January 2017 Stock has bounced from 50 SMA
RSI has bounced from 20 SMA and RSI is above 50 at around 55
RSI has ...
It is been observed on the daily chart that the price action forms a two harmonic patterns.
1. Bearish Crab Pattern
2. Bullish Cypher Pattern
I have covered different harmonic patterns in the educational series which you may find in below attachments.
I shall be sharing an educational post on Crab and Cypher patterns by this weekend for better ...
It is been observed that the price action is overall trending in a uptrend channel with a short correction in downtrend channel highlighted in blue. Now, on the result day it may touch the resistance level at 280 levels or may go down to 260 levels to next support.
Upside: 280 (Resistance)
Downside: 260 (support)
It is been observed that the price action breaks out from a downward trending channel on hourly chart, indicating a bullish signal and dominance of buyers on movement of price action. It is also important to notice and acknowledge that the price action forms a V-Shape after a breakout. This V-shape formation also refer to the correction to previous resistance ...