Unveiling insights from the 4-hour chart, the Tenkan-sen line plays a dominant role, soaring above the Kijun-sen. Engulfed in an upward trajectory, the red line boldly points skyward while its blue counterpart maintains a calm stance. Hovering pretentiously above the price chart, the Chikou Span line dictates authority, with the current cloud mirroring an optimistic ascent. Witnessing a correction towards the mighty Tenkan-sen line, the battlefront shifts to the supportive turf of a historic Chikou Span low at 18808.4. Stealing the spotlight, the Kijun-sen line stands as the formidable resistance at 18206.8.
Analyzing the Daily Chart:
Transitioning to the daily chart, the saga continues with the Tenkan-sen line reigning supreme above the Kijun-sen. The red line begins its descent, venturing downwards while its comrade, the blue line, maintains a poised stance. Reveling in its superiority, the Chikou Span line claims its throne above the price chart, commanding attention with the clouds of fortune veiling an imminent upward momentum. In a defiant stance above both the Tenkan-sen and Kijun-sen lines, the price dictates an unyielding narrative of ascension. The loyal Chikou Span low of 18813.0 beckons as a support bastion, as the indomitable Tenkan-sen line looms large as the next formidable obstacle at 18203.6.
Expert Guidance:
Delving into strategic waters, the recommendation emerges as a ray of light in the tumultuous market sea. Advocating for long positions at the existing battleground, the focus shifts fervently towards reclaiming former glory at the Chikou Span pinnacle of 18808.4. A prudent strategic retreat is advised, with a stern Stop Loss order stationed at the venerated Kijun-sen threshold of 18206.8, ready to safeguard assets amidst market turbulence.
Scenario:
Recommendation: BUY
Entry Point: 18513.2
Take Profit: 18808.4
Stop Loss: 18206.8
