Sunpharma is at very good buying zone for Med term perspective can accumulate at 517.5 to 527 and add more if dips to 490-500 zone. De-Risk the trade around 545 for piece of mind. Immediate Target of 584, followed by 640 and 700. After a good run, this is a healthy correction and price taking support at previous resistance. Appreciate comments and Feedbacks
Yesterday #Gold break below the 1240 #support (#endingdiagonal) but managed to bounce back. I already expect Gold to start its major #correction for the move started 1120 but before that one last leg up is still in play (because of ending diagonal #elliotwave pattern). yesterday break of the support indicate that the fall may come quicker than we expect and #Gold ...
Note: We are more bearish on this pair now. There is a potential Double Top Setup. Let's see if it is able to break the neck line at 1.312 level Here are 2 trading plans: 1. Short when the price break the neck line powerfully or after breakout followed by pull back. 2. Wait the price correction to the next resistance level at 1.319 level and short again.
A very nice set up for EURUSD is on the way. The market just began a downtrend and right now a pull back is trying to form. Let's wait and see if it will touch the 40ema, if it does I will take a short position targeting 30 pips. The market is below all the EMS which includes 20, 40 and 200 ema. Keep posted I will let you know once the signalis strong enough.