Jindal Steel - Falling wedge + Coming out of correction soon!
Key Highlights:
1. Potential change in MS underway
2. Falling wedge pattern
3. Rejection from trendline atm
4. Approaching the demand zone
5. Ripe for the next impulsive move
6. Accumulate between 370-380
7. Target: 410, 445, 499
8. Stop loss: 364
You are always advised to use an appropriate Risk-Reward ratio as per your strategy.
P.S: This is NOT investment advice. This chart is meant for learning purposes only. Invest your capital at your own risk.
1. Potential change in MS underway
2. Falling wedge pattern
3. Rejection from trendline atm
4. Approaching the demand zone
5. Ripe for the next impulsive move
6. Accumulate between 370-380
7. Target: 410, 445, 499
8. Stop loss: 364
You are always advised to use an appropriate Risk-Reward ratio as per your strategy.
P.S: This is NOT investment advice. This chart is meant for learning purposes only. Invest your capital at your own risk.
Nota
Morning update: Jindal steel is currently sitting at the confluence of the previous demand zone + 0.618 Fib level + 200 MA. May see a good bounce from here. Bulls need to save the 200MA for a further up move.EOD update: Jindal Steel was able to bounce from our confluence zone, though it doesn't seem like a great bounce. The volume is still lacking.
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I build communities where traders feel understood and supported. 🔥
Trading is lonely, but it doesn’t have to be.
Want to grow with people who get it?
📈 Join my FREE Telegram → t.me/johntradingwick
🤝 Connect on Twitter → x.com/tradingwick_
Trading is lonely, but it doesn’t have to be.
Want to grow with people who get it?
📈 Join my FREE Telegram → t.me/johntradingwick
🤝 Connect on Twitter → x.com/tradingwick_
Penerbitan berkaitan
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.