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BHEL : Finding SELL signal in-line with downtrend

Since aug-2015, this stock has been falling with a massive selling pressure making lower low & lower highs.From the level of 220, we saw price falling after a retracement rally from the prior lower-high swing resistance level ( read more about TRADING PRIOR SWING SUPPORT/RESISTNCE ) .Currently after a fall below 173 level of support, price is in retracing mode.We'll be looking for a price action sell signal using lower timeframes (60min here) around 173 layer of flip resistance to join the overall downtrend.As next layer of support is seen near 147 hence this level could be used as our expected target level in case we find a sell entry on the current flip resistance.

SUMMARY : READ price momentum context – RECOGNIZE the pattern going on – TRADE the pattern till it ends and to learn it all join me in my ADVANCE TRADING COURSE & trade with me real-time using higher & lower timeframe charts.  

PLS NOTE : All chart analysis posted here are the author's own idea of trading for educational purpose only &  not any form of advice or recommendations or opinion to anyone.

04.12.2015

Chart view since aug-2015 : STRONG DOWNTREND MOMENTUM >

04.12.2015-2

2 responses on "BHEL : Finding SELL signal in-line with downtrend"

  1. noob101 at

    Sir, do you use volume also in your analysis.
    In your course and your analysis, does volume have any significance? Or you just use price action will teach us only price action?

  2. Hi, i don’t use volume in my price action analysis hence don’t teach in course. Search “volume spread analysis” in youtube or google if you wanna know about volume analysis. THANKS

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