Reason : Correction move initiated in two way format from 167. Second down wave will be commenced at 165 and finish at 158 level. Then at this level price will stall for some time.
Timeframe : Current long move will continue for another 1-2 weeks in which it will start shaping for down move as short traders will positioned with shorts for 2-2.5 week.
Timeframe : Current long move will continue for another 1-2 weeks in which it will start shaping for down move as short traders will positioned with shorts for 2-2.5 week.
Trade closed: target reached
Booked profit as closed partial profit.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.