Hello Folks,
Reliance has formed a H & S Pattern on the 15 min chart after the breakout of the Neckline the price has retested the Resistance Level Twice indicating probability of further price fall.
The Price crossed the 50 RSI level but couldn't sustain indicating further fall and more over the market is overall very bearish.
I do not advocate this setup for trading purpose it is solely for educational purpose as this my opinion and view of the future price action.
Please follow your own analysis and instinct, if you like this idea just leave a comment which help me to learn and improve as i am a complete novice trader.
Best Regards,
Reliance has formed a H & S Pattern on the 15 min chart after the breakout of the Neckline the price has retested the Resistance Level Twice indicating probability of further price fall.
The Price crossed the 50 RSI level but couldn't sustain indicating further fall and more over the market is overall very bearish.
I do not advocate this setup for trading purpose it is solely for educational purpose as this my opinion and view of the future price action.
Please follow your own analysis and instinct, if you like this idea just leave a comment which help me to learn and improve as i am a complete novice trader.
Best Regards,