When all are biased towards the bearish side why I can able to see a sideways to bullish angle?. Here are the reasons.
1. 11700 is the 50% of Fib retracement of the last bull run (Covid bull run). Now it is hanging over there for the last two weeks but could not able to break it.
2. Why i can able to see a W pattern in the daily chart. Of course, it is not formed yet, but if short covering will happen n Friday or Monday due to global cues, then all shorter will run for cover and that is good enough to break 12600?.
3. I can able to see the continuous 7 red candles in the weekly chart, i could not able to see that many red candles during the 2008 crisis or during the covid crisis also. So why can't the market take a pause here/ reversal?.
I am a new learner and this is for my educational purpose only. Not to take any trades. Happy to learn if someone answers my question.
I am looking to go long of 11700 with huge risk, I will keep my SL below 11650. Let's see what will happens?.
1. 11700 is the 50% of Fib retracement of the last bull run (Covid bull run). Now it is hanging over there for the last two weeks but could not able to break it.
2. Why i can able to see a W pattern in the daily chart. Of course, it is not formed yet, but if short covering will happen n Friday or Monday due to global cues, then all shorter will run for cover and that is good enough to break 12600?.
3. I can able to see the continuous 7 red candles in the weekly chart, i could not able to see that many red candles during the 2008 crisis or during the covid crisis also. So why can't the market take a pause here/ reversal?.
I am a new learner and this is for my educational purpose only. Not to take any trades. Happy to learn if someone answers my question.
I am looking to go long of 11700 with huge risk, I will keep my SL below 11650. Let's see what will happens?.