The analysis is only for educational purpose.
CYPHER Pattern Rules
Point B retraces to 0.382 – 0.618 Fibonacci level of the leg XA Condition satisfied
Point C is formed when prices extend the XA leg by at least 1.272 or within 1.130 – 1.414 Fibonacci extension level Condition satisfied
Point D is formed when it retraces 0.782 Fibonacci level of XC -...
If the stock is able to stay above 21 WEMA, expecting it to go back to previous highs of 125. bounced from Support zone, breakout from Channel, now 21WEMA providing support. Look for long in this counter.
This is based on the book by Laurentiu - Price action breakdown
Fair Value area - is the rectangle box -where price has spent most of the time trading at, an area where supply met demand.
The price area confined between those two horizontal lines in the chart above is the fair value area
Excess Price -
You can see that price has gone three times above the...
FEDERALBNK - Bullish Trend,
Monthly
- Previous bearish Trend
- Monthly Stop Loss 75.70
- It is downtrend for short time, right now it is at resistance level ~ 84.95
- The expected target is about 110 price
Weekly
- Downtrend channel of about 17 pips
- Expected to cross at 85, if weekly close is above 85 then it is BUY
- The next immediate target is...
Federal bank looks strong for long but still have to wait for lower timeframe confirmation once the consolidation overs(seller dies out followed by strong buyer comes / else HH & HL formation in lower timeframe near the support line marked as green.)
