On today's chart, we'll be seeing two of our favorite price action trading patterns taking place in HINDUNILVR stock. The two patterns are:
1) Prior to PIN FORMATION on flip resistance (learn : FLIP level strategy)area around 900, the stock conformed us a strong downtrend with lower-highs & lower-lows on it's back & we traded the bearish PIN BAR sell signal well in-line with the overall bearish strength which led a strong sell-off there-after.
2) We got another selling opportunity Around 820 area of prior swing resistance level where we saw price rejecting the resistance layer after a false-breakout above the level & a rally up/down followed by such false break of key level generally produce strong push against the false break layer & the same thing happened from 820 area towards the key support area of 780.
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SUMMARY : READ price momentum context – RECOGNIZE the pattern going on – TRADE the pattern till it ends and to learn it all join me in my ADVANCE TRADING COURSE & trade with me real-time using higher & lower timeframe charts.
PLS NOTE : All chart analysis posted here are the author's own idea of trading for educational purpose only & not any form of advice or recommendations or opinion to anyone.
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