I would not repeat yesterday's EOD charts here but delve into 5 min charts(something which I have not done since long):
.png)
sw1=5720-5639=81
sw2=5639-5693=54
sw3=5693---downwards
But how can we be sure that sw2 is over at 5693---??
If 5674.3 remains unbreached(shown as "Deciding point" in chart above),we are in sw3.
If it gets breached,we are still in sw2 and would breach yesterday's high(5693.45) as well.
Stop loss for Positional shorts remains at 5721.
EOD post:
The same old story continues---
while price made a fresh top--hourly momentum indicaters kept on showing negative divergence.
And trendline lows also could not be held----
.png)
What to do in such scenario,as we trade price ??
Very difficult to answer that.
While indicaters are clear about decreasing momentum,and trendline is not able to " hold the trend".
Reversal is likely but when???
.png)
sw2=5639-5693=54
sw3=5693---downwards
But how can we be sure that sw2 is over at 5693---??
If 5674.3 remains unbreached(shown as "Deciding point" in chart above),we are in sw3.
If it gets breached,we are still in sw2 and would breach yesterday's high(5693.45) as well.
Stop loss for Positional shorts remains at 5721.
EOD post:
The same old story continues---
while price made a fresh top--hourly momentum indicaters kept on showing negative divergence.
And trendline lows also could not be held----
.png)
What to do in such scenario,as we trade price ??
Very difficult to answer that.
While indicaters are clear about decreasing momentum,and trendline is not able to " hold the trend".
Reversal is likely but when???
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