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Then analysis is done for the sequences mentioned in the chart.
Seq 1: Engulfing is seen after bearish with increase in volume. Trade Plan: Direction Bullish, Position Long, Entry above 2460, SL 2346, Target: 2574.
Seq 2: Engulfing is seen after bullish trend with slight increase in volume. Trade Plan: Direction Bearish,Position short, Entry below 2524, SL 2600, Target 2675.
Seq3 & 4 : Engulfing is seen but the trend is in sideways and hence not considered for trading.
DEAR SIR /MADAM
PLEASE CORRECT the seq2 target as 2401(being a bear trend plan the target cannot be higher than the entry level)Updated Trade Plan for Seq 2: Direction Bearish, Position Short, Entry at 2524, SL 2600, Target 2448.
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