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Here in this example the security ASHOKLEY was trading in a range for a couple of months April to July.The demand zone is tested multiple times during the consolidation period.In July the strength of Bears increased considerably, by looking at the volume during the Gap formation.The greater volume and former multiple testing of Support zone gives indication that the security will continue to move in the direction of gap-gap down.
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Hi,
it’s an Area gap.
Dear Vignesh
Could you please explain it? The support level is tested multiple times and a gap is formed below the trending area isn’t it ?
Regards
Latha
Hi mam,
It seems to be Area gap as it is filled subsequently, But considering the high volume and the support it may also be Breakout gap.
Thank you Vignesh. We learn only by constant and continous give and take policy.Every day in every way through this platform if we are committed to learn , let us be open to interact with each other.
Thanks and best regards
Latha