as we can see that double top is in making break of 1249 will take us to the 0.23 fib level retest of neckline and then to the final tgt that is 0.382 fib level that is 1140
just noticed how the perfect bearish cypher harmonic pattern completed on jubiliant food daily chart , also setting up a bearish crab in the process !!!
Bearish Crab harmonic pattern on Jubiliant Foodworks daily chart ?
AB = CD forms beyond X , so definitely it is a crab pattern. if point B breaks , the pattern will be validated...
Strong price action break out from descending triangle and then a confirmation back to previous resistance and now moving up to achieve targets of 1252 and 1263. Keep a stoploss at 1229
After a strong big green candle breakout from 1216 levels, this confirmed a uptrend momentum intact and after confirmation of previous resistance as support, it confirms a better risk reward. It shall reach to the next resistance levls of 1250 as per this 30 mins chart.
Target: 1250
SL: 1210
Key take aways:
1. Completion of 5 corrective waves
2. All Oscillators are at over oversold conditions
3. Almost no risk to high reward condition.
Markets are in down trend but for next couple of weeks a upward rally can be expected in the market due to many short covers in market, which can also support the upward rally of this overheated pizzas.
Trade...
