BANKNIFTY--Retest and Rise ??

Updated

Observations::
price a strong fall is witnessed today as well...
noticed that fall happens after a consolidation...
if consolidation + Downside =Up...may be possible...
we are still left with the bullish gap left below Previous resistance..
if this previous resistance will acts as support or not,
we have a trendline confirmation as well to go long...
wait until price breaks the trendline and retest to enter long.
If a continuous fall happens...enter break of the previous resistance and retest of strong resistance.

Note

consolidation to downside is observed...

Note

price is exactly opens below...resistance zone...wait before enters in long position...

Note

if price fills the bearish gap look for sell here...

Note

price is at the trendline and resistance...

Trade active

small target

Note

If stop loss hits...will do reverse trading...up to the bullish gap finished...

Note

this is a strong zone....if breaks...up side movement...not able to move up, downside movement...

Trade closed: target reached

keep in trade...exit few at entry.

Note

now price is at our poi for sell...long entry done...

Note

If price consolidates and comes down...
bottom side demand zone fails to take the price up..i will wait for the price to break...then will go for short entry...until keep on buy side.

Note

price broken our demand...if the trendline acts as support..price will rise fastly....

Note

On bottom side..we have trendline support.... pls wait before short.

Note

At trendline....if fails and retest will go for short entry.

Note

i am ready for sell side....

Trade active

Note

exit few at bullish gap...remaining below bullish gap or entry point.

Trade closed: target reached

target 1 is done

Trade closed: target reached

target 2 is reached.

IIT-Trader

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