How to Read chart ( example Tata Motors )🧵🧵
- Short Term
- Long Term
- Reversal
Kindly like Re Tweet for Max Reach
1) Check Current trend :
Here in chart :
Retest - Chart breakout from downtrend
Wave 1 > Consolidation 1 > Wave 2 > Consolidation 2
Now Wave 3 above breakout of Consolidation 2
2) When this uptrend can reverse ?
- Resistance of Wave 1 = Support of Wave 2
- Till price is above high of previous wave its uptrend
- If it breaks trend weakens and may reverse
3) When to enter ?
- Chart consolidates after every pump
- Always enter in breakout of consolidation
Shown in chart below -
4) When to exit ?
- When it breaks the high of previous wave / upside
- When it breaks trendline support
- When there is BIG BIG Red candle