IBULHSGFIN has zone highlighted in yellow (251-258) which acted both as support & resistance during last 2 years.
This is beauty of Price Action where role reversal happens as price moves around these zones.
One should focus on identifying support & resistance zones which can come in many forms.
1. Horizontal Lines
2. Trend Lines
3. Fibonacci Levels
4. EMA / SMA
5. Gaps
6. Pivot Points
Correct understanding of SR levels pave a way for successful Price Action analyst.
Also highlighted in this chart is Ascending Trinagle formed by IBULHSGFIN , breakout from the level and then pullback to neck line.
Hope this article help in your learning.
Thanks
Piyush Gupta
Learn & Earn
This is beauty of Price Action where role reversal happens as price moves around these zones.
One should focus on identifying support & resistance zones which can come in many forms.
1. Horizontal Lines
2. Trend Lines
3. Fibonacci Levels
4. EMA / SMA
5. Gaps
6. Pivot Points
Correct understanding of SR levels pave a way for successful Price Action analyst.
Also highlighted in this chart is Ascending Trinagle formed by IBULHSGFIN , breakout from the level and then pullback to neck line.
Hope this article help in your learning.
Thanks
Piyush Gupta
Learn & Earn
All studies for for learning purpose only.
These are not trade recommendations
Not responsible for any profit or loss
These are not trade recommendations
Not responsible for any profit or loss
Publicaciones relacionadas
Exención de responsabilidad
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.
All studies for for learning purpose only.
These are not trade recommendations
Not responsible for any profit or loss
These are not trade recommendations
Not responsible for any profit or loss
Publicaciones relacionadas
Exención de responsabilidad
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.