Rsi giving Resistance = Buy signal in Breakout

16 feb

here in chart if you go deep dive properly bearish momemtum is about to shift. because from last 2 days market is not making bigger swings and Rsi is not weak enough in bearish movement. and we can easily see 4 times resistance in Rsi , so according to price action analysis more then 3 -4 time hitting support resistance make the level very weak . all things are coming together
1. Price is in very Demand zone (multi yrs )
2. Price is moving in downwards channel (9days consucative red candles)
3. Rsi retest resistance more than 4 times
4. momumtum lose by market by not making widers swings




note: We just need to make Higher High form once, then Rsi trendline will also be broken and we will see change in momemtum and change in price action...


Thank you all Traders