Rawlings_NG

RIGHT ARM OF M PATTERN IS FORMING.... SELL

NSE:OIL   OIL INDIA LTD
When examining this asset, there is evidence of an M-pattern formation occurring across weekly, 4-hour, and 1-hour time frames.

Although the right arm of the M-pattern has not yet begun on the weekly timeframe, it is about to commence on the 4-hour timeframe. There is also a clear formation of the right arm of the M-pattern taking place on the 1-hour timeframe.

Aggressive traders may opt to enter using the 1-hour timeframe, while conservative traders may prefer to use the 4-hour timeframe. Conservative and long-term holders may choose to ride with the weekly timeframe.

Ultimately, the choice of timeframe depends on individual trading style.

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