FINDING POTENTIAL SUPPORT
METROPOLIS COMPLETED 5 IMPULSIVE WAVE ON MINOR DEGREE FOLLOWING WHICH IT IS CORRECTING RIGHT NOW.POINT IS WHERE IT WILL END AS STOCK IS IN CLEAR UPTREND AND GETTING LONG IS IDEAL TRADE ON THIS STOCK TO TAKE AS WAVE 3 OF INTERMEDIATE WILL BE STIPPER AND RAPID.
PRICE ZONE OF 2227-2211 CAN ACT AS GOOD SUPPORT REASON'S ARE AS FOLLOWS
1)PREVIOUS MULTIPLE HIGH'S WHICH ACTED AS RASISTANCE CAN NOW ACT AS SUPPORT WHICH COMES NEAR THE MENTIONED PRICE ON CLOSING BASIS.
2)50% RETRACEMENT OF ENTIRE SWING COMES@2227(WAVE 1),WHICH IS WHERE GENERALLY WAVE 2 CORRECTION END.
3)TODAY'S HIGH WHICH BRIEFLY CROSS 62% RETRACEMENT OF WAVE A@2509,REVERSED MEANING WE ARE DONE WITH WAVE B AND WAVE C PROJECTION OF 123.6% WAVE A FROM TODAY'S HIGH COMES @ 2211.
ONE SHOULD LOOK FOR A BULLISH CANDLE IF PRICE COMES BETWEEN 2227-2211 ZONE.IF WE ALSO GET GOOD VOLUMES ALONG WITH BULLISH CANDLE IN THIS ZONE THAN THAT WOULD BE ADDITIONAL CONFIRMATION.
PRICE ZONE OF 2227-2211 CAN ACT AS GOOD SUPPORT REASON'S ARE AS FOLLOWS
1)PREVIOUS MULTIPLE HIGH'S WHICH ACTED AS RASISTANCE CAN NOW ACT AS SUPPORT WHICH COMES NEAR THE MENTIONED PRICE ON CLOSING BASIS.
2)50% RETRACEMENT OF ENTIRE SWING COMES@2227(WAVE 1),WHICH IS WHERE GENERALLY WAVE 2 CORRECTION END.
3)TODAY'S HIGH WHICH BRIEFLY CROSS 62% RETRACEMENT OF WAVE A@2509,REVERSED MEANING WE ARE DONE WITH WAVE B AND WAVE C PROJECTION OF 123.6% WAVE A FROM TODAY'S HIGH COMES @ 2211.
ONE SHOULD LOOK FOR A BULLISH CANDLE IF PRICE COMES BETWEEN 2227-2211 ZONE.IF WE ALSO GET GOOD VOLUMES ALONG WITH BULLISH CANDLE IN THIS ZONE THAN THAT WOULD BE ADDITIONAL CONFIRMATION.
Penafian
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