Nifty 50 IndexShort
TP= 6800?
Updated
Oh Oh, after building a Double Top @ 9.000 a consolidation started.
This consolidation caused a trendbreak - the momentum turned bearish.
Now i see a bearish H&S. If the index would trade below the neckline @ ~ 7.900, a further drop should be expected.
Only Prices above the potential right shoulder will brughten the Chart.
Longs have a really nice Chance-risk-Ratio at the actual Level - as always wehenn we are trading near a Support Level :-)
Best Regards
Mary
Former view:
This consolidation caused a trendbreak - the momentum turned bearish.
Now i see a bearish H&S. If the index would trade below the neckline @ ~ 7.900, a further drop should be expected.
Only Prices above the potential right shoulder will brughten the Chart.
Longs have a really nice Chance-risk-Ratio at the actual Level - as always wehenn we are trading near a Support Level :-)
Best Regards
Mary
Former view:
Note
Counter (DB)Move reached the min. correction level fibo 38,2 Note
Note
Trading above the right shoulder would destroy the bearish pattern - here i would exspect a new upwave like illustrated
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