BANKNIFTY--Inverse Head & Shoulders??

Banknifty Index created a inverse Head and Shoulders pattern...
price broken the neckline strongly...and retested.
on topside clearly resistance is at 46200 and 46500-46550 levels...
keep in long side until price is above the neckline...
no short side until price breaks the below ...after breaks below the neckline will think of short side for liquidity grab below support levels.
If price gives an elimination move below 45500 levels...
look for long side...up to the resistance levels.

Commento:

it is approching the level...wait price may completely bearish as well.

Commento:

as long as price is above its bullish only.

Commento:

its time to think

Commento:

It's time to think elimination or reversal

Commento:

Break and continuation or break and fall back
elimination and move upside...
keylevel is neckline

Commento:

Breakout or breakdown

Commento:

exit from long if price breaks 45970 levels.

Trade chiuso: obiettivo raggiunto:

Its now at one more important zone of resistance...

Commento:

until Neckline breaks no short side view

Commento:

now price is at important zone of resistance....its time for reversal