🎯This could easily be a Bear trap. 🎯Observe that the breakdown came at an immediate support 🎯The immediate next candle is an insider candle pacing the fall 🎯 The breakdown level is at 50WEMA 🎯 If next week's price closes back in the range, We may see a bounce. Especially if we see a long lower wick candle touching the 155 level before shooting back up. 🎯 No good reason for it to correct at this point.
⚠️Disclaimer: We are not registered advisors. The views expressed here are merely personal opinions. Irrespective of the language used, Nothing mentioned here should be considered as advice or recommendation. Please consult with your financial advisors before making any investment decisions. Like everybody else, we too can be wrong at times ✌🏻
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🎯 The bear trap in #ABCAPITAL worked out word for word. 🎯 ABC is up by over 3% today🚀 🎯 The long wick recovery from 155 levels 👌 🎯 A weekly close at current levels will strengthen the analysis for further up move.
bro you drew the lines wrong, it should be either connecting all closes or all lows, your line that begins with low does not connect with any other low, but I do agree, considering the valuations it is unlikely to sustain any breakout on the lower side , today it closed for 156, this would be the bear trap.
TheChartereds
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@abhishekattri001, Thanks for sharing your views Mate. Hehe, I tell my students that Analysis is an art. There are no strict rules here. Everything has to be relative to other factors. I am happy that we agree on the bear trap! #Friendly