CMP: 3.4020
Price is trading closer to the 0.618 fib retracement (3.3780)
AVWAP (On Daily TF) from the swing lows is placed at 3.4083
Price has been declining non stop without any meaningful pullback and I believe that the price will halt and reverse from here.
On Daily TF, it has left 2 FVGs at the top. Price most likely to be pulled up to these levels before going down (if the trend is to go down).
In my view, it is not a good idea to short at current levels of 3.4.
Actually, it is a LRHR set up in the making for long trades.
Daily chart with AVWAP
Disclaimer: I am not a SEBI registered Analyst and this is not a trading advise. Views are personal and for educational purpose only. Please consult your Financial Advisor for any investment decisions. Please consider my views only to get a different perspective (FOR or AGAINST your views). Please don't trade FNO based on my views. If you like my analysis and learnt something from it, please give a BOOST. Feel free to express your thoughts and questions in the comments section.
Price is trading closer to the 0.618 fib retracement (3.3780)
AVWAP (On Daily TF) from the swing lows is placed at 3.4083
Price has been declining non stop without any meaningful pullback and I believe that the price will halt and reverse from here.
On Daily TF, it has left 2 FVGs at the top. Price most likely to be pulled up to these levels before going down (if the trend is to go down).
In my view, it is not a good idea to short at current levels of 3.4.
Actually, it is a LRHR set up in the making for long trades.
Daily chart with AVWAP
Disclaimer: I am not a SEBI registered Analyst and this is not a trading advise. Views are personal and for educational purpose only. Please consult your Financial Advisor for any investment decisions. Please consider my views only to get a different perspective (FOR or AGAINST your views). Please don't trade FNO based on my views. If you like my analysis and learnt something from it, please give a BOOST. Feel free to express your thoughts and questions in the comments section.
Trade ativo
Low made was 3.3660 and we are seeing a big Engulfing candle on daily with an impressive 9% move from the supports so far. Now the context could potentially be changed to bullish and we might see all sorts of narratives playing out. It is called Widowmaker for a reason.
With this violent move, we have broken the swing at 3.68 and could potentially breakout above 3.7110
Hoping for this channel to playout, but wont predict anything too soon.. trade one level at a time.
We need to see how the Dips are going to be treated..
One good trade :) Hope some of you have benefited from this view!
Disclaimer: I am not a SEBI registered Analyst and this is not a trading advise. Views are personal and for educational purpose only. Please consult your Financial Advisor for any investment decisions. Please consider my views only to get a different perspective (FOR or AGAINST your views). Please don't trade FNO based on my views. If you like my analysis and learnt something from it, please give a BOOST. Feel free to express your thoughts and questions in the comments section.
Trade fechado: objetivo atingido
both the FVGs are achieved.. trade closed.
I am not a SEBI Registered Analyst. Views are personal and for Education purpose only. Please consult your Financial Analyst before making investment decision
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.
I am not a SEBI Registered Analyst. Views are personal and for Education purpose only. Please consult your Financial Analyst before making investment decision
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.