JUBLFOOD, CORRECT USE OF PRICE ACTION FOR EASY INTRADAY PROFITS

16 Dis 2020

JUBLFOOD was given to buy above 2645 at 11:49 AM today. This triggered after wait of 2 hours and gave us good profits. There were initially 2 reasons for trade and later flag formation acted as 3rd reason which added confirmation to it.
Post the breakout, it was also given that stock if crosses 2693 then it can move to 2723. Although it didnt break 2693 and made high of 2691.5. Reason for this target analysis were FIbo extension.
Daily view of Fibo below shows that 1.272 level is at 2692 and this I analyzed that it this breaks this level it will move to 2723 which is 1.272 Fibo extension of smaller TF fibo


Smaller TF FIbo


Watch my other charts to understand simple price action used for all of the analysis. Keep your charts simple and free from lagging indicators. If you check all previous charts, you will understand how beautiful price action trading is and how one can become independent trader by following some simple rules.
Reach out if you wish to learn powerful technical analysis based on simple price action.

Thanks
Piyush Gupta
Learn & Earn