I LOOKED THE WHOLE DAY AT THE CHARTS TO TRY AND UNDERSTAND WHAT THE IMMEDIATE OUTCOME OF BNF MAY BE, AND THIS IS THE BEST EXPLAINATION I HAVE BEEN ABLE TO COME UP WITH.
1. THE SHORT IS VALID AS LONG AS BNF NOV STAYS BELOW 24490-505 ZONE.
2. I DREW PARALLELS TO TRY AND SEE WHAT BNF IS TRYING TO DO..... IT NOW APPEARS TO ME THAT THE BREAK OF 1 PARALELL WILL CORRECT TO THE LOWER T/L OF THE 2ND PARALLEL .... AND A BREAK OF THE 2ND PARALLEL WILL CORRECT TO THE LOWER T/L OF THE 3RD PARALLEL.
3. THE PREVIOUS GAP UP ZONE ALSO CO-INCIDES WITH MY THEORY ..... HENCE THE PREVIOUS GAP UP NOW BECOMES A SUPPORT, UNLESS BROKEN TO THE DOWNSIDE WITH VERY HEAVY VOLUMES
4. MOST INDICATORS ARE POINTING DOWNWARDS..... WHICH GIVES WEIGHT TO THE IDEA
5. 20 EMA ON A DAILY BASIS IS AT APPRXX 23600 APPRXX...... THIS TOO SUPPORTS THE TARGET OF APPRXX 24500-600 ZONE AS PER THE PARALLELS
6. PLEASE DO YOUR OWN STUDIES TO SEE THE BEST OUTCOME. I WOULD LOVE TO HEAR FROM YOU ALL ON ANY THEORIES/ IDEAS YOU MAY BE ABLE TO COME UP WITH
1. THE SHORT IS VALID AS LONG AS BNF NOV STAYS BELOW 24490-505 ZONE.
2. I DREW PARALLELS TO TRY AND SEE WHAT BNF IS TRYING TO DO..... IT NOW APPEARS TO ME THAT THE BREAK OF 1 PARALELL WILL CORRECT TO THE LOWER T/L OF THE 2ND PARALLEL .... AND A BREAK OF THE 2ND PARALLEL WILL CORRECT TO THE LOWER T/L OF THE 3RD PARALLEL.
3. THE PREVIOUS GAP UP ZONE ALSO CO-INCIDES WITH MY THEORY ..... HENCE THE PREVIOUS GAP UP NOW BECOMES A SUPPORT, UNLESS BROKEN TO THE DOWNSIDE WITH VERY HEAVY VOLUMES
4. MOST INDICATORS ARE POINTING DOWNWARDS..... WHICH GIVES WEIGHT TO THE IDEA
5. 20 EMA ON A DAILY BASIS IS AT APPRXX 23600 APPRXX...... THIS TOO SUPPORTS THE TARGET OF APPRXX 24500-600 ZONE AS PER THE PARALLELS
6. PLEASE DO YOUR OWN STUDIES TO SEE THE BEST OUTCOME. I WOULD LOVE TO HEAR FROM YOU ALL ON ANY THEORIES/ IDEAS YOU MAY BE ABLE TO COME UP WITH
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THE SHORTS WORKED WELL .......