PSX_Learner

PSX_Learner Updated 

It could be an example of a Bullish Flag. Why am I posting it? The reason is to show an example of the AB=CD Pattern, and it currently respected the 61.80% Fibonacci level at 22.17. If it breaks the 61.80% level on a closing basis (Keeping in mind, it's a Weekly Chart :-) ), it could drop to 18, potentially forming a double bottom. However, if it plays out as...

PSX_Learner Updated 

A beautiful bullish flag has formed on the monthly charts, with projections around 56 . However, there is strong resistance around 48 , which could be a good point to offload a small portion and consider rebuying after a pullback or once the resistance is cleared. The exact target of the projections will depend on the value where the breakout occurs, so adjust...

PSX_Learner Updated 

First of all what is Dow Theory? According to Dow Theory, it's all about Higher Highs (HH) and Higher Lows (HL) or Lower Highs (LH) & Lower Lows (LL). These the building blocks of an uptrend or downtrend respectively: (You can further google it) Together, a series of HHs and HLs suggests that the market's upward momentum is intact. Now Let’s take a look at...

PSX_Learner Updated 

The price action has formed a bullish flag pattern (Weekly), with the current levels reaching a critical Fibonacci retracement zone. After a sideways trend within the flag, I'm eyeing a potential breakout . A confirmed break of the flag pattern could lead to a continuation move, targeting the clone area of the rectangle box in shortTerm & clone area of a...

PSX_Learner Updated 

After successfully completing the AB=CD pattern, the stock is now entering a potential buy zone. Why Buy Range? It's based on Fibonacci retracements: 38.2% of the long wick and 61.8% of the short-term move (CD, which was clone of AB). However, I'll also be happy if it comes down in my 1st buying area which i already offloaded :-) Note: I'm still learning,...

PSX_Learner Updated 

This might be a potential buying zone (small chunk) for the following reasons: 1. Target of H&S completed. 2. Weekly support. 3. EMA 144 - 200. Note: I'm a learner and I'm reusing my learned tools after a very long time. Let me know if I can improve or if you have any suggestions.

PSX_Learner Updated 

ou can closely watch the levels I've mentioned on the chart via the text. Before a breakout or breakdown, consider playing within the range with a stop-loss. If a breakout (BU) or breakdown (BD) occurs, check other supporting indicators or parameters before executing your trade. Always conduct your own research before making any decisions.

PSX_Learner Updated 

I'm still not finished with my analysis. I'll refactor / update it over the weekend, & then I'll add detailed description . Currently, I'm too much busy with office work. This is just a draft for review on the coming weekend.

PSX_Learner

In the past several weeks, we've observed the following market movements: 1. First Uptrend: Over 23 weeks (161 days), the price increased from around 64 to 124 with a substantial volume of 438.94M. 2. First Downtrend: Following this, the price declined over 11 weeks (77 days) from 124 to 108, with a volume of 237.994M. 3. Second Uptrend: The price then...

PSX_Learner

Previous cup & handle is still intact Current neck line of Head & shoulder is broken

PSX_Learner

ANother cup is formed, wait for the handle. Entry can be taken around mentioned points & on 4h chart, seems Risk Reward Ratio of almost 1 : 3