Bharat Forge - Perfect Example of .618 Bullish Retracement
.618 Fibonacci Retracement
Most Popular Retracement
Important retracement for a stock that is selling off after completing a good Rally.
#BharatForge is a perfect example of .618 Bullish Retracement and its amazing to see how prices rallied after hitting .618 retracement
Trade Consideration ( Refer Chart )
Point #1 : A good rally
Point #2 : A sharp Sell-off
Point #3 : Exhaustion Candle with huge volume at .618 Retracement Support ( First Clue from Pure Price Action )
Point #4 : Hammer/Key Reversal Candle with huge volume at .618 Retracement Support ( Second Clue from Pure Price Action )
Point #5 : Huge Volume at two important Reversal Candles ( Exhaustion followed by Reversal )
Assignment for Learners: Identify .618 Retracement on daily chart and post in the comment section
If you have Any Questions, please feel free to ask in the comment section below
Share for Wider Participation and more much educational posts
Most Popular Retracement
Important retracement for a stock that is selling off after completing a good Rally.
#BharatForge is a perfect example of .618 Bullish Retracement and its amazing to see how prices rallied after hitting .618 retracement
Trade Consideration ( Refer Chart )
Point #1 : A good rally
Point #2 : A sharp Sell-off
Point #3 : Exhaustion Candle with huge volume at .618 Retracement Support ( First Clue from Pure Price Action )
Point #4 : Hammer/Key Reversal Candle with huge volume at .618 Retracement Support ( Second Clue from Pure Price Action )
Point #5 : Huge Volume at two important Reversal Candles ( Exhaustion followed by Reversal )
Assignment for Learners: Identify .618 Retracement on daily chart and post in the comment section
If you have Any Questions, please feel free to ask in the comment section below
Share for Wider Participation and more much educational posts