Nifty is at the stage where i ll wait for the entry in lower TF, its at the reaction point which seems very active.
price will go above the resistance in two healthy ways.
1. it will try to go above the resistance and fail and it will try again and will succeed by exhausting all the sellers at that price.
2. it will cut and go above the resistance rapidly, price will come back and will try to go below the same resistance which is support now. same buyer which bought at that level will not let the price go below that point so it will push it above and that's our retest.
remember, 1st will happen or the second. do not wait for a retest if it did not cross the resistance smoothly, as we can see here its not able to cross the resistance in one go. if it crosses the level above then the retest will be rare or will be a failed retest.
price will go above the resistance in two healthy ways.
1. it will try to go above the resistance and fail and it will try again and will succeed by exhausting all the sellers at that price.
2. it will cut and go above the resistance rapidly, price will come back and will try to go below the same resistance which is support now. same buyer which bought at that level will not let the price go below that point so it will push it above and that's our retest.
remember, 1st will happen or the second. do not wait for a retest if it did not cross the resistance smoothly, as we can see here its not able to cross the resistance in one go. if it crosses the level above then the retest will be rare or will be a failed retest.