Strong weekly demand imbalance lower, it now appears as though we are beginning to pullback to that area.
Either wait for confirmation (New demand zones on lower timeframe) or take as a set and forget type of trade.
Long bias! :)
This is my first post for Indian Stocks, if you like the following then give feedback and I will do more.
So to the analysis. What I am seeing is price trying to retrace to that strong demand zone lower. Now it looks like we created an inverse head and shoulders after failing to retrace fully to demand (which is normal).
From todays perspective it appears as...