Reliance takes out HTF SZs smartly.
Would you have shorted? => Absolutely not!
Why? => Look at LTFs.
Do you see any confirmation or reversal PA on LTFs? => No!
Daily:
15 min:
2 Likes
This looks perfect for Breakout traders.
@alphaT @ShubhS9 Wish to point out “Zig-zag” indicator, which makes rectangle mark easy for me. (Support & Resistances). Thanks
Your welcome … 
Hindustan Unilever- a stock in massive uptrend. MTF analysis for bias. What’s the bias?
M:
W:
D:
Another Question: Why did price turn upwards on 7th Oct ? Why from there ?
If u see on daily chart, there is small demand zone created at price range 1920 to 1960. Price move higher from that demand zone.
One more point, on monthly chart, if we draw the trend line then it is getting support at this demand zone (1920 -1960 price range).
So as per my technicals , it moves higher because of trend line & demand zone.
DZ got created at 1920-1960 when price turned from there, that’s correct, but question is why price turned from there? In other words, the 1920-1960 DZ was a consequence, but the question is it’s a consequence of what?
If you say it’s because of the Trendline on Monthly chart, then could you draw it and show?
How S/R traders and Breakout traders are trapped sometimes, watch it completely to get a sense of it!
4 Likes
I am bad in image edting in Mobile. Somehow I managed to draw trend line
I watched the new video & it was informative. Thanks for the details
I think reversal in prices was because change in overall market sentiment.
Although I am also not an expert in drawing trendlines, however, with what I know, I would draw the Monthly TL as follows:
Now if I go to the Daily TF then the TL would look like this:
Now we can see that the Monthly TL was nowhere close to the price reversal near 1920-1960 that we discussed above! So why did price turn from there then?
Overall market sentiment turned bullish I agree, but is that all? Could we think from the perspective of anything that we have learned from our PA?
Maybe stock didn’t respect PA this time around, PA won’t work all the time will it?