The price is taking considerable resistance against the dynamic resistance/trend line.
A strong price rejection can be seen in 4 hours time-frame. This could attract more sellers or even make the existing buyers to change side.
Overall a channel is formed. However, we can see more or less similar volume of buyers and sellers during both corrective and impulse waves.
The fib extension value comes around 1.565 zone. However its recommended to exit during the first opposing force (buying pressure) which can be expected around 1.600 to 1.570.
CMP 1.730
Note: Kindly do your analysis before taking any entries and the above is purely for educational purpose only.
A strong price rejection can be seen in 4 hours time-frame. This could attract more sellers or even make the existing buyers to change side.
Overall a channel is formed. However, we can see more or less similar volume of buyers and sellers during both corrective and impulse waves.
The fib extension value comes around 1.565 zone. However its recommended to exit during the first opposing force (buying pressure) which can be expected around 1.600 to 1.570.
CMP 1.730
Note: Kindly do your analysis before taking any entries and the above is purely for educational purpose only.