You take a Big Profit trade at open
Price moved upside, & you made some profits
After some time, the price started to come down
Now you don't know whether it is a TEMPORARY PULLBACK or a COMPLETE REVERSAL
4 Ways to know it.
Price moved upside, & you made some profits
After some time, the price started to come down
Now you don't know whether it is a TEMPORARY PULLBACK or a COMPLETE REVERSAL
4 Ways to know it.
1️⃣Look at Open Action
Open action (9.15-9.45) plays a crucial role in the day.
The presence of strong buyers indicates it is just a pullback.
The absence of strong buyers indicates a high possibility of reversal!
Open action (9.15-9.45) plays a crucial role in the day.
The presence of strong buyers indicates it is just a pullback.
The absence of strong buyers indicates a high possibility of reversal!
2️⃣Look at the Last 2 Days' Price Action
The last 2-3 days' market sentiment plays a crucial role in the current day.
If it is positive, then there is a high possibility that the price is just showing a temporary pullback (and not a complete reversal).
The last 2-3 days' market sentiment plays a crucial role in the current day.
If it is positive, then there is a high possibility that the price is just showing a temporary pullback (and not a complete reversal).
3️⃣ Look at the Candlestick
Usually, the price forms a "Big Bearish Engulfing" at the top before reversing.
The absence of such a candlestick pattern indicates it is just a pullback!
Usually, the price forms a "Big Bearish Engulfing" at the top before reversing.
The absence of such a candlestick pattern indicates it is just a pullback!
4️⃣Look at VWAP
On most times VWAP acts as Support or Resistance.
If the price is taking support at VWAP, then it means a high possibility of temporary pullback (and not complete reversal)
On most times VWAP acts as Support or Resistance.
If the price is taking support at VWAP, then it means a high possibility of temporary pullback (and not complete reversal)
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