Learn Technical Analysis - Bearish Trend
In sgx nifty chart first there was a uptrend & then it broke the resistance of around 17000.
After breaking the resistance it fall again. Now in this scenario prevoius resistance acting as a support & it bounced back from it.
At around 17460 there was a second resistance. So you can also see the dry volume & negative divergence near this resistance level. After this it formed evening star pattern.
This is how we should do technical analysis for bearis trend.
1. Uptrend
2. Find if any resistance or support
3. Then dry volume with negative divergence
4. Finally a bearish pattern.
In sgx nifty chart first there was a uptrend & then it broke the resistance of around 17000.
After breaking the resistance it fall again. Now in this scenario prevoius resistance acting as a support & it bounced back from it.
At around 17460 there was a second resistance. So you can also see the dry volume & negative divergence near this resistance level. After this it formed evening star pattern.
This is how we should do technical analysis for bearis trend.
1. Uptrend
2. Find if any resistance or support
3. Then dry volume with negative divergence
4. Finally a bearish pattern.
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Formed double top