BANKNIFTY--Drop Base Drop ??

Updated

Price broken the trendline and retested, we will enter in short side...Our target gets hit.
price again on the other side broken the trendline and we enter in long side.. our stop loss hits.

now price is near to the major trendline break...
in bigger time frame price broken bullish channel...
and in smaller time frames...it is again in channel...
so tomorrow if price again reversed from the major trendline, looks for buyside...

Price is without touching the resistance showing bearishness, to trap the early sellers.
now we have to observe price will again bullish from drop base drop...

so will see what happens in the next session.

Note

Drop base drop is observed...if falls from this level.

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If major trendline failed to acts as support again...looking for sell.

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If price continue to upside...on break of channel and retest..enters in long side.

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Will see tomorrow what happens.

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Be aware now.....
price completed the drop base drop...by opening gap down...

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Don't go for short side.....
keep in the long side...
we are going to look for long entry.

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A gap down indication means...look for long side...

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wait for the right oppurtunity...

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Price consolidation to downside...

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Price is moving down wards...we don't get any entry, to enter.
If it is a continuous move we will get a good profit today, in a drop base drop.
Let's find an opportunity again...if i will get any entry, i will update.
Thanks guys for your support.

Note

It's Buyers time

Note

they wants to take the liquidity.

Note

Price is near the support...don't go long...will see if gives us entry or not.

IIT-Trader

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