Please look at the below Chart - 1 (Minute) :
Chart - 1
As indicated in the chart :
A : Index point went down with large volume.
B : Got a support, but the volume did not increase.
C : As a result volume went down again. One important thing is that it did not form a Lower Low (LL).
D : Index point got support again with rising volume. So, index went to up.
E : We found that point fall with one large volume for taking hurryly profit. Thereafter seller were not interest to sell in low price (Low volume indicated that).
F : As seller were not interested to sell in low price, so price went to up with rising volume. That's all.
Due to the above Chart -1's up and down, we find the below candlestick. Please look at the Chart - 2 :
Chart - 2
Finally, please look at the below Chart - 3 (Day Chart) :
Chart - 3
Please look at the circle. Support zone was tested 2nd time within 5 days.
=> If support and resistence zone tests several times then we may see a sideways market.
=> If support zone breaks down then index will go down.
=> If support zone sustains and volume increases then we may see a up trend.
TA (Technical Analyst) will say that - You have used only Moving Average, Bollinger Band and Volume. Tomar chart-e MACD, ADX, CCI, RSI, MFI, OBV, Stochastic, TRIX, William's % R, Mass Index, Chaikin, Aroon, AccDist, Parabolic SAR, ect. dekhci natho. Tumi tho TA na miah.
Yes, You are 100% right. I'm not a TA.
No comments:
Post a Comment