NSE:SPMLINFRA looks good for long. Logic behind long:- - on higher time frame(monthly) price is make ing reversal and changing trend - weekly trend change to sideways - on daily (lower time frame) price has broken the price structure. Entry @41.90 cmp Stop loss @ 38 Target @ 62.70
In the 30m chart, price is in a contracting triangle. Momentarily fell to a support and came back. In the daily, price has broken from a channel and in the weekly, entering into another channel. I expect continuation to male a (d) wave in a contracting triangle of a Wave 4 on the weekly. The d-leg of a Wave 4 is counter trend and make an ABC form. Price is...
Directional bias on daily and weekly time frame Monthly time frame has broken out above monthly down trend line NZD is a strength story - CHF is a weakness story
Good Day Traders !! It's time for a full breakdown of the EUR/JPY . We have on the monthly timeframe a "W" formation and we just rejected the neckline which is in confluence with the previous high. Going down to the weekly timeframe we notice that we have also an impulse , correction , continuation pattern and we are currently at wave 5. On the daily timeframe we...