Parallel channe with Golden ration analysis.
Parallel channel with gravitation on the weekly chart-:
If you see the price between line (b) and (c), you will note that price is trading longer time into this area. Presently, the stock price is the (d) or value low which is support.
----------------------------------------------------------------------------------------------------------------
confluence zone m1 and m2 is the support from fib retracement.
If you see the price between line (b) and (c), you will note that price is trading longer time into this area. Presently, the stock price is the (d) or value low which is support.
----------------------------------------------------------------------------------------------------------------
- m1 1207 (currently price trading)
- m2 1114 which is at 50% division
Trade closed: target reached:
Booked profit.