NSE:RELIANCE retains a bearish continuation thesis on the 4-hour chart, conditional on a rebound into 1237-1253 and rejection from that zone. The supplied reference price is 1182, so the setup depends on a pullback to the zone before any trade is considered.
The chart shows successive lower highs and lower lows, followed by a sharp decline through prior support. A brief consolidation around 1237-1253 also broke down, making that area a potential resistance zone on a revisit. The supplied bar calculation identifies it as the largest volume-profile shelf, accounting for 3.4% of the profile and supported by chart extremes.
Confirmation would require a test of 1237-1253, a bearish 4-hour close back below the zone, and follow-through below the rejection candle's low. Without that sequence, the setup remains unconfirmed. If confirmed, the first downside objective would be 1141, based on the 161.8% move projection; the second would be 1082, based on the 261.8% move projection.
A move to 1264, beyond the far boundary of the zone, would invalidate this bearish rejection thesis. Any subsequent setup would need a fresh assessment.
Position size would need to reflect the distance from the confirmed entry to 1264 and a predefined loss limit. The supplied reference risk-to-reward ratio to 1141 is 1:3.5; the actual ratio depends on the entry. ATR(14) is 14 per 4-hour candle, while the objectives lie 6.9 ATR and 11.1 ATR from the zone. These are extended projections requiring sustained follow-through, with partial risk reduction at the first objective a possible management approach.
The chart shows successive lower highs and lower lows, followed by a sharp decline through prior support. A brief consolidation around 1237-1253 also broke down, making that area a potential resistance zone on a revisit. The supplied bar calculation identifies it as the largest volume-profile shelf, accounting for 3.4% of the profile and supported by chart extremes.
Confirmation would require a test of 1237-1253, a bearish 4-hour close back below the zone, and follow-through below the rejection candle's low. Without that sequence, the setup remains unconfirmed. If confirmed, the first downside objective would be 1141, based on the 161.8% move projection; the second would be 1082, based on the 261.8% move projection.
A move to 1264, beyond the far boundary of the zone, would invalidate this bearish rejection thesis. Any subsequent setup would need a fresh assessment.
Position size would need to reflect the distance from the confirmed entry to 1264 and a predefined loss limit. The supplied reference risk-to-reward ratio to 1141 is 1:3.5; the actual ratio depends on the entry. ATR(14) is 14 per 4-hour candle, while the objectives lie 6.9 ATR and 11.1 ATR from the zone. These are extended projections requiring sustained follow-through, with partial risk reduction at the first objective a possible management approach.
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NO REDESIGNING
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✅RR 1k3, no deep drawdowns!
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คำจำกัดสิทธิ์ความรับผิดชอบ
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SIGNAL INDICATOR
NO REDESIGNING
✅Buy&Sell according to 7 strategies
✅Technical analysis according to 30+ parameters
✅WinRate of signals up to 75%
✅RR 1k3, no deep drawdowns!
Free test drive using my link:
👉midas-club.com/go/tla
NO REDESIGNING
✅Buy&Sell according to 7 strategies
✅Technical analysis according to 30+ parameters
✅WinRate of signals up to 75%
✅RR 1k3, no deep drawdowns!
Free test drive using my link:
👉midas-club.com/go/tla
คำจำกัดสิทธิ์ความรับผิดชอบ
ข้อมูลและบทความไม่ได้มีวัตถุประสงค์เพื่อก่อให้เกิดกิจกรรมทางการเงิน, การลงทุน, การซื้อขาย, ข้อเสนอแนะ หรือคำแนะนำประเภทอื่น ๆ ที่ให้หรือรับรองโดย TradingView อ่านเพิ่มเติมใน ข้อกำหนดการใช้งาน