Nifty
The breakout of the Head and Shoulders pattern has already occurred and the price has reached the calculated support level, you are at a crucial juncture. This support could act as a strong level to either confirm the continuation of the downtrend or signal a potential reversal.
If the support holds: The price might bounce back, indicating that the downtrend is slowing or reversing. Watch for signs like a reversal candlestick pattern or a break above the right shoulder’s high to signal a potential upward move.
If the support breaks: This would confirm the bearish breakout and the price could move lower, possibly reaching the calculated price target (support level from the Head and Shoulders pattern calculation).
Disclaimer: This information is for educational purposes only and should not be considered as financial advice. Always conduct your own research or consult with a financial advisor before making trading decisions. Trading involves risk, and it's important to trade according to your risk tolerance and use proper risk management strategies.
If the support holds: The price might bounce back, indicating that the downtrend is slowing or reversing. Watch for signs like a reversal candlestick pattern or a break above the right shoulder’s high to signal a potential upward move.
If the support breaks: This would confirm the bearish breakout and the price could move lower, possibly reaching the calculated price target (support level from the Head and Shoulders pattern calculation).
Disclaimer: This information is for educational purposes only and should not be considered as financial advice. Always conduct your own research or consult with a financial advisor before making trading decisions. Trading involves risk, and it's important to trade according to your risk tolerance and use proper risk management strategies.
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