As discussed yesterday, news was an important factor. Though the decision has been postponed for tomorrow, the markets got heavily volatile.
Price Action Lessons from Today -
The green pattern,
Making a lower end at S2 pivot level
An higher low near S1 pivot level
Clear breakout of morning high and trend till previous day's resistance
The red pattern, (M)
Clear trade at the end of the M, breakdown from the range
Now for tomorrow -
Market's ended at the days's low.
Clear range on the 5 min chart (black channel)
Scenario's for tomorrow -
For Gap Up :- 23800 resistance will play the key role. Price action at this level will become important for an uptrend
For Flat Opening :- Will wait for clear range break (5 min chart)
For Gap Down :- 23400-23370 will become an important region, breakdown below it can give a quick 100 point fall till the major support channel. (1 hour time frame)
Similar to today,
Tomorrow also will be a really crucial day and news will have a huge impact.
Happy Trading!
Price Action Lessons from Today -
The green pattern,
Making a lower end at S2 pivot level
An higher low near S1 pivot level
Clear breakout of morning high and trend till previous day's resistance
The red pattern, (M)
Clear trade at the end of the M, breakdown from the range
Now for tomorrow -
Market's ended at the days's low.
Clear range on the 5 min chart (black channel)
Scenario's for tomorrow -
For Gap Up :- 23800 resistance will play the key role. Price action at this level will become important for an uptrend
For Flat Opening :- Will wait for clear range break (5 min chart)
For Gap Down :- 23400-23370 will become an important region, breakdown below it can give a quick 100 point fall till the major support channel. (1 hour time frame)
Similar to today,
Tomorrow also will be a really crucial day and news will have a huge impact.
Happy Trading!