Falling RSI. Important FIB Level. Channel Trend Line.
Trendline has been broken on Daily Inside bar break on Weekly RSI making lower Highs on all time frames This one will drop hard.
Keeping things simple. Simple Insider bar trade in play on higher time frame. Have a tight SL and big TP. If it breaches UP, you won't loose much. But lot's to Gain.
Short!! SL above 12500 TP 12000
Risk/Reward Ratio 1:1 now. If it dips then buy again to increase the R/R Ratio. On 4H Chart, Inside bar top break leads to some rally, so short term LONG
Downward Trend RSI Short Signal Downward Channel Sell at 1.093 SL above 1.000 (To avoid fake out) TP 1.078
Bears will be in control. 34000 is in range. RSI downward.
Monthly chart shows 2 inside bars with long tails. 3rd Inside bar is forming as well. Long pin bars suggest price looking to drop. On lower time frames patterns suggest price may drop as well. In any scenario price will rally in the direction it breaks the Inside Bar pattern. Falling RSI on all time frames as well. My call - Short :)
Great Risk/Reward Ratio TP 6500 SL 7600
Trend line breakout Pull back
#GNC #Greencore Top Resistance Falling RSI tops TP 216 SL 232
BSE:SENSEX Price has broken down the trend line and is in a Pull back structure. May test 39000 (psychological level) which is also the base of trendline, previous support and near a FIB level. If pullback is confirmed then price may test 33-34000 range. Viewing at uncertainties globally, drop seems likely.
Expecting price to drop to gap around 298.
1) Shooting Star Daily Candle 2) Previous low as Resistance