I have been monitoring this index for quite a while. It made a bearish flag on an hourly chart. There was a bullish divergence which propelled the chart to get bullish which resulted in the formation of a bearish flag. I was waiting for a breakout of a bearish flag to put a short trade for the index but the breakout turned out to be a false one. The trend is bullish now and I have marked a key support level. I have now placed a pending order of Buy Limit by using FIB. No divergence is noted on the current trend.
The Signal is:
EP: 7828.22
SL: 7765.61
TP: 7890.83
RR: 0.5%
The Signal is:
EP: 7828.22
SL: 7765.61
TP: 7890.83
RR: 0.5%
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.