SBIN trade ideas
SBIN will be out from the TriangleIf SBIN goes above 196.8 without going further down than it will be a perfect buying opportunity, as it is rising from the downward channel line will try t touch the upper channel line @ around 215
STATE BK OF INDIA 1HRBearish GARTLEY Strong PRZ
ULTRA HIGH VOLUME for going SHORT we need LOW VOLUMES in the area of ULTRA HIGH VOLUME BAR
Low volume shows no interest to the downside from “Smart Money” so prices will not go lower..
RED HORIZONTAL LINES ARE Daily RESISTANCE & SUPPORT ..Horizontal BLACK DOTTED lines r High & Low of ULTRA HIGH Volume CANDLE Vertical dotted line is ULTRA HIGH VOLUME i.e PROFESSIONAL MONEY .Price on breaking of ULTRA HIGH VOLUME Candle LOW with No DEMAND i.e place to SHORT (No demand means volumes lower than previous two )...REVERSAL From GARTLEY or BIGGER Shark ?
Potential SELL
SBI - Bullish - expecting price will move to 210SBI - About to break out from symmetrical triangle pattern and move towards 210. Accumulation zone between 188-192.
SBIN | About time to go LONG- Forming an ascending triangle pattern.
- MACD squeezing in.
- RSI consolidating
- Something BIG is coming!
SBIN 10 August SBIN in downtrend as per-
MACD - 1.46
RSI- 52.08.
and we will go for short after confirmation and Stron Support will be 50 EMA - 188.63,
Educational Purpose Only....
#Sbin was in Sideways Sbin was in sideways and did not perform as expected and did not give an opportunity for short but we can go for buy postion(Long) Target- 194- 195 a strong Resistance with 187.50 Support for swing trading...
For intraday short wait untill breakdown below 187.50 target- 185.
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SBINWaiting for a breakout on either side on SBIN.
Timeframe - Daily
Pattern- Triangle pattern breakout.
SBIN - Heading towards a Bilateral Pattern "Ascending Triangle" Its creating a Ascending Triangle on a 4 Hrs daily chart. Around 6th August the trend can either go up or dip down. The entry point for SHORT is 186 and Target 180. The entry point for LONG is 201 and target is 220.
