NIFTY 50 INDEX 2 HOURLY CANDLE CHART EDUCATIONAL SHORT VIEW

Updated

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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no any entry candle found till now in short direction

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assuming 17800 can be achievable

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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 flow

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PRICE almost close to near first major Lower High

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Stop Loss is very small here

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achieved 17800 so here waiting for price confirmation in sell direction

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sooner or later price definitely test the lower band of the channel near 15500

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for now the last boundary barrier as black trendline is still alive so hope is alive for down trend

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its works today

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one hours one candle of seller is enough for 4 days of 24 hour buyers candle to defeat

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fall continiue

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struggling at 17600

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gap up failed as holding my negative view

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at least my resistance line 17800 respecting by market from previous one month

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we are very close to the upper and main falling trendline is the last resistance mkt should respect this twins black falling trendline

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technically we got triggered today

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but this is a strong Fibonacci level .382

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NIFTY Daily Candle AB=CD Pattern Analysis

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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

sk_4587

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