Just a course correction - had a fresh look after yesterday’s move.
It seems that last time we overlooked the divergence on weekly RSI- an overisght/mistake at our end,
That was indicating either the fall is about to be over or an upmove .
Weekly Chart
Well it played out yesterday - a good move with volumes.
But are we out of the woods for good -for that we first need a close above 40 DEMA ie 295.
Then we will wait for weekly MACD to turn into buy zone.
If the upmove really starts ( next wave) , then it would go very high - we can buy at a little higher price too ( as upside potential would be huge) but we need few confirmations to take bigger position.
Disclaimer :This post is just for learning few methods of price-patterns. Views are personal. No buy/sell recommendations. These are probability study methods and chances of success/failure depend upon various factors.
Subscribe To Our Free Newsletter |