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Price action analysis – NMDC > Trade the consolidation range breakout

NMDC (Daily Chart) :

Price broke out of a consolidation range of 105-90 layers & currently pulling back towards it's breakout area.We're waiting for price to retest the breakout level of 90, where we'll look for price action sell signals to join the breakout momentum towards downside.To show the significance of this stock's downtrend, i've added it's weekly chart where you can see the stock has been falling with a clear cut downtrendy selling pressure making smooth lower lows & lower highs since july-2014.

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.

11.12.2015

11.12.2015-2

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