Reaching oversold zone alone can not be construed as a reversal.
Having +ve divergences can not guarantee a reversal.
But what they can give are some trading opportunities.
Only an EOD price can give confidence of a ST reversal.
The "Hour Lead indicator chart below" shows a consolidation pattern in the oversold zone.
Let it show a break-out; let the prices move above 21 hr sma.
"5913-25" would be a minor support zone and "5978-91" would be resistance zone for the day.
"5943"(WLEma)-would be the crucial weekly number.(Revise it if new lows are made)
Having +ve divergences can not guarantee a reversal.
But what they can give are some trading opportunities.
Only an EOD price can give confidence of a ST reversal.
The "Hour Lead indicator chart below" shows a consolidation pattern in the oversold zone.
Let it show a break-out; let the prices move above 21 hr sma.
"5913-25" would be a minor support zone and "5978-91" would be resistance zone for the day.
"5943"(WLEma)-would be the crucial weekly number.(Revise it if new lows are made)
27 comments:
Good Morning Sir & All Friends.
Good Morning, Ilango Ji
good morning master
GM SIR
Good Mng Master and all the blog mates.
Good Morning Ilango Sir and Friends
Pin Bar of NIFTY: CLICK HERE
Good Morning Master & Friends
Good morning Ilango sir & all blogmates.
Rgds
Saravanan
san ji,
GM: the kangaroo tail normally follows the opp. direction of the tail: in this case down-wards.
Good morning illango sir ^& friends
provided it crosses above the either the midpoint of the high/low or the high of the pin bar
@Master n all,
Gud Morning
Have a Great Trading Day!
Shubh Laabh.
Good Morning to Ilango Ji..
Namaste Ilango Sir and all,
CLICK HERE FOR HOUR CHART
CLICK HERE FOR DAY CHART
CLICK HERE FOR WEEK CHART
Pranaam Master
have a nice trading day
Good Morning Gurudev and friends
ATR Based Trading Signals
Buy Zone : From 5914.8 to 5902.8
Breakdown below : 5900.4
Breakdown target : 5857.1
Sell Zone : From 5962.8 to 5974.8
Breakout above : 5977.2
Breakout target : 6001.1
Good morning master & JN family
Have a nice day !
R/Ilango Sir,Namaste n Namaskaar 2 all reader's.
Master,
Is the 5wave down completion confirmation still @ 5953.
Regards and Thanks,
Good Morning Ilango Sir and Friends
GM Master and to all JNians
Good morning Master and Seniors.
Sir,
I have a basic question in EW,
wave 5 target will strat from low of wave 4 or end of wave 4?
Thank you Sir
Raj
Good morning everyone.
@ SJkolkata,
Only above 5960 & 5969, it could be confirmed.
Waves could be sub-dividing.
@ Raj,
To calculate "probable targets for wave-5", measure from the 'end of 4" because "wave-5 starts from where wave-4 ends."
Thanks Master
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