- December 23, 2020
- Posted by: virtualxstore
- Category: trading
Wave 5 is completed, the First leg of correction Wave A seems to be complete and we are in Wave B of pullback.
30,345 is a significant level on the chart, the short term bearish trend changes above 30,345
Decision Zone:- 29,754 – 29,858
Smaller Range:- 29,573 – 30,045
Medium Range:- 29,236 – 30,291
Upper Targets: 29,961 / 30,042 / 30,193/ 30,291 / 30,523
Lower Targets: 29,573 / 29,441 / 29,226
Try to read the market in context to the larger picture:-
One of the best forms of PA action is not to predict but to act on the price, chart tells you where, when & how to act on price. Wait for the decision points on the chart to act else don’t trade.
For E.g. One of the important DP is the weekly low, if the weekly low is broken, then only you will short else you won’t.
John Maynard Keynes said, “the markets can remain irrational longer than you can remain solvent.” So be cautious and flexible as market conditions evolve.
Always trade what you see, never trade what you feel. Make this a habit, you won’t be requiring any seminar, webinar, or mentor, you will be self-sufficient.