NIFTY50.....Bearish wedge nearly complete?Nifty 50 IndexNSE_DLY:NIFTYruebennaseHello Traders, on the 3 hour timeframe the NIFTY50 hasn't made any net progress at the past two weeks. It bounces between two „Equal-highs“ (EQH) from April 21st to July 7th. Of course it was arange of roughly 1500 points, but there was no breakout to one or the other side. Connecting both high's we get a trendline and this will act as a resistance at the coming days ahead. I have drawn a bearish „wedge“ at the chart and probably one more higher high is soon to come, but after market should decline. Keep in mind that this formation can morph into a bearish broadening- wedge! So much more touchpoints of both trendlines will be needed. A price target for a bearish variant is around the „low-liquidity“ zone @23825 to 23500 points. Note that we got two overlapping areas; one of a low-liquidity zone and one of a bullish FVG (both drawn at chart)! At the 3 hour chart you cacn see that at 24530 an bearish orderblog has been established; followed by a bearish FVG (fair value gap)! This is an ideal situation for beearish trade. The price has bounced into the zone of a FVG and the possibility is given that it will advance higher for the coming one or two sessions. As you can see at the chart the high is a strong high! After it should decline. For those trader who will follow the trading idea place a stop-loss level some tics/points above the high 24530. well friends, we will see how market shou,d recall or ideas and I will update the chart when something interesting will happen! Have a great weekend..... Ruebennase Please ask or comment as appropriate. Trade on this analysis at your own risk