Triangle is breaking out on the upside, waiting on Retest to enter a long position, there are always so many gaps on traditional markets hence I prefer to use Line chart instead of candlesticks for swing trading setups
will post a R:r setup in timeline once we CLOSE above the yellow trendline
weekly MACD is also printing bullish signal about to cross
also there is a double Bottom formed on the weekly time frame
I have posted some Bank charts as well they are all forming same patterns & looking for a Relief rally.
I still consider this bounces as dead cat bounce mainly because Vaccine for Covid-19 is not available for the masses, as long as not every human has been vaccinated the fear of WAVE 2 hitting us will be there, we are also opening up our country which is understandable as second option is much worse for the economy - Depression!!
we have to face the fact & start to live with this virus, there are only 2 emotions that really matters FEAR & GREED, I won't suggest you to be TOO GREEDY with this bounce, keep taking profits at every resistance
There are stocks charts already updated in my profile make sure to check them out :)
do let me know your thoughts on current market situation & the pandemic we are facing in the comments
will post a R:r setup in timeline once we CLOSE above the yellow trendline
weekly MACD is also printing bullish signal about to cross
also there is a double Bottom formed on the weekly time frame
I have posted some Bank charts as well they are all forming same patterns & looking for a Relief rally.
I still consider this bounces as dead cat bounce mainly because Vaccine for Covid-19 is not available for the masses, as long as not every human has been vaccinated the fear of WAVE 2 hitting us will be there, we are also opening up our country which is understandable as second option is much worse for the economy - Depression!!
we have to face the fact & start to live with this virus, there are only 2 emotions that really matters FEAR & GREED, I won't suggest you to be TOO GREEDY with this bounce, keep taking profits at every resistance
There are stocks charts already updated in my profile make sure to check them out :)
do let me know your thoughts on current market situation & the pandemic we are facing in the comments
Nota
Retest IncomingNota
EIther this was a Double top & we will follow the red line or we will follow the yellow line hence I said in the beginning wait for retest, I don't trade options or futures in indian market just sharing what I see on charts, I will try to post a R:R setup if RETEST holds Nota
still no position active either retest holds or we dump down .618-.65% is what I am keeping my eye on
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.