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Discussion in 'Technical Analysis' started by rakesh_shekhawat, Jan 21, 2018.

  1. rakesh_shekhawat

    rakesh_shekhawat New Member

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    Hello friends, Just strated learning technical analysis couple of weeks back, I will thank to Shabbir and other members who are actively participitaing in the forum.

    Some technical analysis points I found

    1. Whenever blue line is above red line market goes bullish - RSI indicator with moving avaerage
    2. volume also looks increasing
    3. W pattern formed although one thing is negative
    4. last candel is marubozu which indicate trend will follow and trends looks bullish

    SL: 575 - 580
    TARGET: 660
    CMP: 612

    Can you let me know your thoughts on this?
    Chart attached
     

    Attached Files:

    rakesh_shekhawat, Jan 21, 2018
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  2. shabbir

    shabbir Administrator Staff Member

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    Instead of clicking a photo, you can save the chart as image and attach. it will have more clarity.

    Also the RSI indicator isn't something I follow. I see your chart is a 4 hour chart and W is formed on 4 hour chart. Is this correct?
     
    shabbir, Jan 22, 2018
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  3. rakesh_shekhawat

    rakesh_shekhawat New Member

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    Yes, it is 4hrs
     
    rakesh_shekhawat, Jan 22, 2018
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  4. shabbir

    shabbir Administrator Staff Member

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    Your stop loss level is spot on with the price action strategy that I follow. Target I would like to have is closer to 700 though.
     
    shabbir, Jan 23, 2018
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