head and shoulder pattern
Lower high + lower low
the price cannot exceed 50% fibo off 2 waves (one form peak to 11100 levels and other one from the LH to LL
Which lead us to 9000 levels
*scenario fails if we can exceed 12525 with high volume
2002-2022- November's cndle is red 11x.
8 out of 11 times, the month of
december showed green candle (Bullish)
Others supporting Bullish reversal:
1- double bottom candle formation
2- formation of HL at strong support
TASI is beautifully following Falling Wedge Pattern.
Bearish Until End of Nov
Short Bullish retracement within Falling wedge is expected by End of November Until top of falling wedge (in further 4 weeks).
Trade individual stocks with proper stop loss
Expected Bearish until Watchout level at strong support
Since Covid Bottom Level, market has taken 135% Bullish Rally until May 2022.
It has taken correction up to 22%.
It may retrace from any fib level.
H&S formation is complete and correction may lead to it's target.
However, a strong horizontal support will be help retracement.
TASI bearish wave has gone further than I expected and formed the top H&Ss. I has however gone up the neckline, which is reassuring that it is not responding to the negative H&SS. Maybe TASI has gone back to the safe zone to filled up the gap only. Staying above the thick RED support line is considered good for those who take long position. If TASI goes below...
Finding historical trend lines exposed buy candles gap in hours or (days candle) usually in TASI draw by top or bottoms which approved by times will give us curves (circle center) to sell with buy points on every historical trends lines .
(circle center usually downier of upper fast trend or midleg of it .