Bear trap section in 2008.
Greed into delusion as people buy stocks in companies that are closed.
New paradigm as retail comes under the impression they have taken over the market.
And now, it looks like we're into the decline.
Follow up to:
Action since the original forecast has been highly supportive of a Return to Normal phase.
We've bounced back to apporx the level shown for it and held a shallow range around there.
Something seen many a time before a breaking market.
Maybe it's time for these moves to play out.
*_Rallis India Ltd._"
*W* Formation in Making on Monthly Basis.
Targets basis Fibonacci Retracement.
Rounding Bottom Completion @320 levels.
Post this, if Sustains, May see 640+ levels.
Trail SL with Upside.
Book Profit as per Risk Appetite.
Do Your Own Research as well. This is an Opinion.
Happy Investing 😇
Sell signal in London Stock Exchange. I see from my time cycle indicator, that top of the cycle is almost there, and downward movement should star from today.
Price movement is primarily trapped inside the triangle formation, however if we examine under the bonnet, the most recent lows are high lows, that being said, the corresponding highs are a mixed bag.
The bias for the direction of possible break out is, therefore, slightly tilted towards the upside.
Reference to the previous post linked below.
The last rally took us right up to the area marked "Return to Normal" and then we had a strong rejection of it.
Next we'd be looking for fear (usually followed by fast rally)- and then down she goes.
REASONS TO BE BEARISH
Recently lost the 100 week SMA and just re-tested it for resistance
Fell out of the exponential green top zone in March 2021
As far as the RSI is concerned, broke into the bear zone (below 40) and confirmed it for resistance failing to reclaim 60s
Target of 2,700p would coincide with the 0.618 fib retrace of the entire move from...
**This is a re-post of the London Stock Exchange (now LSEG, LSE previously) idea (below). Tradingview help-desk were unable to attach the idea to the new ticker symbol. So far price action is down almost 30% since original post in January.**
A 2300% gain and following overbought condition (green column) there now exists a 16 month bearish divergence between price...
Hello all,
Today I'm going to take a look at the chart of the London Stock Exchange:
- The price is currently in a sharp correction
- The price is in an overriding upward trend
- The last correction was similarly dynamic, but it was stopped at the golden pocket and then the price was able to mark a new high.
- An upward trend channel seems to be established
The...
