NIFTY 50 INDEX 2 HOURLY CANDLE CHART EDUCATIONAL SHORT VIEW
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NIFTY 50 INDEX 2 HOURLY CANDLE CHART EDUCATIONAL SHORT VIEW
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as my previous Nifty posted chart trade is not executed
because my view is down with the H&S on Hourly and it did not work
so i posted this chart because today price cross above my previous chart stop loss
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Price clearly Trending downtrend
as trendline is in down sloping
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17800 is the major resistance in current scenario
and price must find strong resistance here
because 17800 is last Lower HIgh (LH)
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price closing and sustaining above this trendline
can completely change this downtrend to uptrend
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Price clearly in a downtrend
so the best trade is
NOT to buy in Dips
YES to sell on Rise
so where is the best place for sell
if we found price near last lower high
or near the falling trendline
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three case possibility in this down trend
where we can find fresh sell
1) at near 17305
because its a nearest major resistance
marked as pink color thik line
2) at near 17800
because its a major lower high marked as
purple color
3) at near major down sloping trendline
marked as black twins trendline
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as my previous Nifty posted chart trade is not executed
because my view is down with the H&S on Hourly and it did not work
so i posted this chart because today price cross above my previous chart stop loss
----------------------------------------------------------------------------
Price clearly Trending downtrend
as trendline is in down sloping
-------------------------------------------
17800 is the major resistance in current scenario
and price must find strong resistance here
because 17800 is last Lower HIgh (LH)
----------------------------------------------
price closing and sustaining above this trendline
can completely change this downtrend to uptrend
----------------------------------------------
Price clearly in a downtrend
so the best trade is
NOT to buy in Dips
YES to sell on Rise
so where is the best place for sell
if we found price near last lower high
or near the falling trendline
----------------------------------------------
three case possibility in this down trend
where we can find fresh sell
1) at near 17305
because its a nearest major resistance
marked as pink color thik line
2) at near 17800
because its a major lower high marked as
purple color
3) at near major down sloping trendline
marked as black twins trendline
Nota
no any entry candle found till now in short directionNota
assuming 17800 can be achievableNota
still not getting any entry candle toward short direction so its a rest time waiting for the point where bulls getting tired and they goes tired very well because they are riding against the flowNota
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PRICE almost close to near first major Lower HighNota
Stop Loss is very small hereNota
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achieved 17800 so here waiting for price confirmation in sell directionNota
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sooner or later price definitely test the lower band of the channel near 15500Nota
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for now the last boundary barrier as black trendline is still alive so hope is alive for down trendNota
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its works todayNota
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one hours one candle of seller is enough for 4 days of 24 hour buyers candle to defeatNota
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fall continiueNota
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struggling at 17600Nota
gap up failed as holding my negative viewNota
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at least my resistance line 17800 respecting by market from previous one monthNota
we are very close to the upper and main falling trendline is the last resistance mkt should respect this twins black falling trendlineNota
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technically we got triggered todayNota
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but this is a strong Fibonacci level .382Nota
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when mkt is 17300 that time i mentioned on this chart that above 18000 mkt turn positive
also marked by green line above twins black falling line
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