Short covering - Market Structure- Psychology breaking strong selling zone - when call writer gets Scared and Square off their positions
1] Broke PDH with strong Bullish candle was able to open above R1 2] 15 min Doji can triggered good rally, also Doji was formed near previous candle close and high 3] Multiple candle was not able to close below previous candle close - indicates the Bull are strong
1] When Price is Open=high and also below pivot level, and rejected from previous day close . 2]Also broke Previous day low with strong candle - Indicates (bear are strong) bearish view and can go aggressively bear side. 3] When price gets rejected from previous day close , it stay bear side and less chance of reversal (week Bull) when it break...
1]36800 was strong resistance, multiple rejection from this psychological level 2]bounce back (rejection) from psychological level -36800 3]BNF is able to sustained above step (darvas box) -now acting as support after SR flip (which was initially strong resistance) and Breakaway gap is filled 4]Any breakout above this trendline can triggered good rally...
1]36800 was strong resistance, multiple rejection from this psychological level 2]bounce back (rejection) from psychological level -36800 3]BNF is able to sustained above step (darvas box) -now acting as support after SR flip (which was initially strong resistance) and Breakaway gap is filled 4]Any breakout above this trendline can triggered good rally...
CIGNITITECH -TARGET 800-810- if sustain above 680-700 #I am not SEBI registered ,This is not buy/sell recommendations . #Study at your own and then invest and trade.
understanding market psychology and market structure 1] price can take pause ,rejections and acceptance at imp psychological levels -round figures, previous day high ,low ,close and pivot level. 2] 15 min hammer candle can triggers huge rally.
1] 15 min candle taken support on PREVIOUS DAY Trendline and stronger rejection for consecutive 3 candle (no 15 min candle close below trendline) and respecting PREVIOUS DAY trendline indicating that bull are strong enough and trying hard - during running market -(IS STRONG SIGNAL WITH CONFLUENCE) 2] forming strong hammer candle at day low, SO ENTRY IS...