DLF, Technical Outlook 22-May

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Trend Negative, Strength Medium
The degree and nature of separation in both bands indicates a negative trend.
The price is trading on the lower side of STMA Band.
The probability of a next negative candle is more than 70%.
Important levels are marked on the chart.

Disclaimer: This is my pre market analysis and my trading journal. Not a suggestion to buy or sell.

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ملاحظة

Today we have a Red Hammer candle with Low High and Low Low.
The price is following the downtrend but fails to give a close below the previous close.
This Hammer candle decreases the probability of down side by 10%.
I am waiting for a confirmation to enter a short trade.

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ملاحظة

The price is following the downtrend.