In my last post (June 2017) I discussed two scenarios. The first scenario worked well.
The pair broke out of consolidation, thus crossed the first strong pressure zone Z1. It faced resistance from a minor pressure zone (labelled on the chart) and pulled back for a retest of the breakout...
This is a short term counter trend trade for a pullback. Although the trend is bearish, a bounce from this support level (on the daily chart) may act as a reversal too.
Trade Safe, Stay Happy.
We have been witnessing correction right from the reaction zone specified in my previous post (refer above link).
In the current chart, I have been observing a Head and Shoulder Pattern and a potential ABCD pattern. The target for both these patterns lie...
I see a sharp bounce from 9222. This low was just shy of the Gartley PRZ near 8700. It has been approaching a possible reaction zone near 13000 and strong resistance near 14000. Price action there will reveal the future course of action.
We have strong support at 8700. The traders should turn bearish only below 8700 because then there will be a...
I have made some efforts to understand the minute details of H&S pattern. I hope these details will catch your interest.
Do hit Like or Comment for better educational posts in future.
Trade safe, stay healthy.
All of us want the price action to follow the direction of our trade but that doesn't happen always. The price action has a natural tendency to move up and down; build ranges and develop patterns. Most of the ranges and patterns are like whipsaws and many traders stuck in these situations and lose money. The most effective ways to deal with such a...