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ULTRACEMCO : Price selling-off from flip resistance

The stock has been  moving in a strong downtrend for a quiet a few weeks now & currently we found some price action sell signals using lower timeframe analysis on it's key flip resistance area of 2800(learn : FLIP level strategy). We expect price to rotate much lower from current level of resistance & hit our ultimate support target of 2550 area in coming days wherein we'll keep an eye to adjust our short position when price hits a short term support level of 2650  (learn : support-resistance strategy). We didn't trade here the "bearish engulfing candle" seen on chart as some price action traders may think so.To get the full details of entry chart on the stock JOIN ME HERE.

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.

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Last Trading Lessons "TRANSFORMATION OF TREND(ending or reversing)"

October 7, 2015

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