BANKNIFTY--Trendline or Bearish Gap??
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After successfully breaking the trendline, the price exhibited a robust upward momentum, breaching the formidable resistance level at 45,100.
However, there's a notable bearish gap left at 45,650 levels on the upper side. Conversely, there exists a trendline on the lower side that could potentially propel the price upward again.
In this scenario, the trading strategy to consider is as follows: If the price retraces to these zones, it may present a buying opportunity at the trendline, with a potential plan to explore short positions near the bearish gap.
It's worth noting that, before attempting to close the bearish gap, the price might offer a retest of the trendline, providing traders with an opportunity to enter long again from this place.
Note::
A consolidation is going to observe while reaching the trendline, we have strong resistances below, buyers are attempting to take the price to higher levels from this places, but be safe at any place they can take the price again. Keep exit positions while testing these resistances.
Will see what happens in the next sessions.
However, there's a notable bearish gap left at 45,650 levels on the upper side. Conversely, there exists a trendline on the lower side that could potentially propel the price upward again.
In this scenario, the trading strategy to consider is as follows: If the price retraces to these zones, it may present a buying opportunity at the trendline, with a potential plan to explore short positions near the bearish gap.
It's worth noting that, before attempting to close the bearish gap, the price might offer a retest of the trendline, providing traders with an opportunity to enter long again from this place.
Note::
A consolidation is going to observe while reaching the trendline, we have strong resistances below, buyers are attempting to take the price to higher levels from this places, but be safe at any place they can take the price again. Keep exit positions while testing these resistances.
Will see what happens in the next sessions.
Nota
Don't go long...Nota
if price breaks the trendline...will look for short.Nota
enter long... on break upside to bearishgap.Dagangan aktif
Nota
Change you stop loss to above low and keep on buyside.Nota
If stop loss hits, Bullish gap be finished.keep safe.Nota
Safe ones change your stop loss to entry....Nota
Book 50%Nota
Rest exit at target or entry point.Nota
Keep trail Nota
If any body wants to exit...exit now, before the selling pressure comes.Dagangan ditutup: sasaran tercapai
Dagangan ditutup secara manual
will see in the next session what happens.
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Please Like, Follow and Comment
Also share your thoughts in the comments section.
Thanks for your Support **
--Educational Purpose Only--
--Not SEBI Registered--
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