According to study from October 3, 2022, the following was planned:
Wait for confirmation above 17300 or, in the event of rejection, near the gap fill area of 16900-17100.
On 6-Oct-22 closed above 17300 but with mixed indications as
- opened gap up, but it's high was not breached
- closed Near Day's Low, but positive compared to previous day
Therefore even though we have two closes above 17300, it might be better to wait and watch the price action to see if it goes above 17400 or else gets supported at 17100.
Consider possibility of returning to the downward bias below 17100.
Wait for confirmation above 17300 or, in the event of rejection, near the gap fill area of 16900-17100.
On 6-Oct-22 closed above 17300 but with mixed indications as
- opened gap up, but it's high was not breached
- closed Near Day's Low, but positive compared to previous day
Therefore even though we have two closes above 17300, it might be better to wait and watch the price action to see if it goes above 17400 or else gets supported at 17100.
Consider possibility of returning to the downward bias below 17100.
Trade active
On 7-Oct-22 closed flat but with mixed indications as- opened gap dn, but buying emerged at day's low
- closed Near Day's high, but slightly lower compared to the previous day
As it remains within the range
- Tracking for the continuation of Upward Bias above 17400
- Possible ReContinuation of Downward Bias below today's low of 17200
Trade active
On 7-Oct-22 closed down with mixed indications as- opened gap dn, but buying emerged at day's low
- closed Near Day's high, but 0.5% down compared to the previous day
As it remains within the range
- Tracking for the continuation of Upward Bias above 17400
- Possible ReContinuation of Downward Bias below 17200
Order cancelled
On 11-Oct-22, closed below 17200, thereby indicating Re-Continuation of Downward BiasCould consider potential reversal to upward bias above 17200
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.