#Week12-Strategy-1&2
BEARISH INDICATOR (DEC 31)
1. Harmonic ABCD Reversal Pattern spotted
2. Zone of 1823 till 1840 is significant resistance and had been tested multiple times in the past
3. Due to the above two confluences, a bearish reversal is expected.
4. After the reversal, the price action is expected to stay sideways between the FIB level 23.6% and 38.2%
5. Will look for any divergence on RSI if price action had to reverse.
BULLISH INDICATOR (DEC 31)
1. Bullish HH and HLs
2. If the zone of 1823 till 1840 is retested, the price is expected to continue a bullish trend after sideways between Fib levels of 23.6% and 38.2%
3. As per the seasonal, last year’s price reached in the zone of 1840 and it is expected to do the same in 2023
PREDICTIONS
1. Due to the ABCD Bearish Reversal pattern, the price is expected to reverse, at least for some time.
2. Will SHORT with trailing SL and prepare for a situation when the trend could still go bullish after staying in the correction zone and sideways for sometime.
BIAS 1 = SHORT - PLAN 1 (Buy @ Pending Sell Stop)
BIAS 2 = LONG - PLAN 2, (if PLAN-A SL1 hits then anticipate to LONG after re-checking the bullish indications)
TRADE PLAN
———————
PLAN A: SHORT @ Pending
EN: 1817.85 (@ Pending Sell Stop Order)
SL1: 1827.8
TP1: 1807.3 - RR: 1.06 - Lt: 0.05
SL2: 1830.9
TP2: 1799.6 - RR: 1.4 - Lt: 0.09
PLAN B: Long @ Pending Buy Stop
EN: 1831.8 (@ Pending Buy Stop)
SL1: 1817.8
TP1: 1846.8 - RR: 1.07 - Lt: 0.05
SL2: 1814.1
TP2: 1856.7 - RR: 1.41 - Lt: 0.09
BEARISH INDICATOR (DEC 31)
1. Harmonic ABCD Reversal Pattern spotted
2. Zone of 1823 till 1840 is significant resistance and had been tested multiple times in the past
3. Due to the above two confluences, a bearish reversal is expected.
4. After the reversal, the price action is expected to stay sideways between the FIB level 23.6% and 38.2%
5. Will look for any divergence on RSI if price action had to reverse.
BULLISH INDICATOR (DEC 31)
1. Bullish HH and HLs
2. If the zone of 1823 till 1840 is retested, the price is expected to continue a bullish trend after sideways between Fib levels of 23.6% and 38.2%
3. As per the seasonal, last year’s price reached in the zone of 1840 and it is expected to do the same in 2023
PREDICTIONS
1. Due to the ABCD Bearish Reversal pattern, the price is expected to reverse, at least for some time.
2. Will SHORT with trailing SL and prepare for a situation when the trend could still go bullish after staying in the correction zone and sideways for sometime.
BIAS 1 = SHORT - PLAN 1 (Buy @ Pending Sell Stop)
BIAS 2 = LONG - PLAN 2, (if PLAN-A SL1 hits then anticipate to LONG after re-checking the bullish indications)
TRADE PLAN
———————
PLAN A: SHORT @ Pending
EN: 1817.85 (@ Pending Sell Stop Order)
SL1: 1827.8
TP1: 1807.3 - RR: 1.06 - Lt: 0.05
SL2: 1830.9
TP2: 1799.6 - RR: 1.4 - Lt: 0.09
PLAN B: Long @ Pending Buy Stop
EN: 1831.8 (@ Pending Buy Stop)
SL1: 1817.8
TP1: 1846.8 - RR: 1.07 - Lt: 0.05
SL2: 1814.1
TP2: 1856.7 - RR: 1.41 - Lt: 0.09