Always remember ->: *Trade with trend*
1. Daily and Weekly close above Level.
-- Sentiment is highly positive. Level acts as strong support.
2. Daily Close above and Weekly Close Below
-- Sentiment is positive.Weekly Level may act as strong resistance.
3. Daily close below and weekly close above
-- Sentiment is negative but weekly Level can acts as strong support.
4. Daily and Weekly Close below Level
-- Sentiment is highly Negative. Level acts as strong resistance.
BUY/SELL -- ENTRY
BUY ABOVE 23.6% UPWARD
IF Trend is positive and price cross and sustains above 23.6%(R1) upside, then it will be entry from BUY perspective.
If R1 is entry, R2/R3/R4/R5 ... will be targets.
SELL Below 23.6% Downward
IF Trend is negative and price cross and sustains below 23.6%(S1) downside, then it will be entry from SELL perspective.
If S1 is Sell side entry, S2/S3/S4/S5 will be targets.
Before taking ENTRY on BUY or SELL Side, please know your risk levels, Stop Loss and trade EXECUTION process.
My view is my view and remains with me only. Once you accept it and trade it, it becomes your view. So credit or blame all yours.:)
R1_d := Pivot + (phigh_d - plow_d) * 0.236
Once price cross R1 and sustains we can buy with Targets of R2/R3