Thread by @Deishma

Nestle Weekly Chart CMP 16798.85
.
Line 16539 is a crucial line on which hinges the rise and the fall.
.
The current Weekly Candle comprises of week’s first three daily candles.
.
It seems it has support for the last three days on 16539.00.
.
1/n

As per Nimblr Candlestick Course, it is hinged on at least three Indecision Candles as marked 1, 2 & 3.
.
2/n

How do we go about doing it?
.
Here below.
.
Let us print the unmarked raw Candlestick Chart as below:
.
3/n

Let us note the High and Low as apparent on the chart, as below:
.
4/n

Let us now move to Line Chart as below
.
5/n

Here distinctly the wave structure is well clear.
.
There are Tops and Bottoms.
.
Let us draw them with values printed.
.
6/n

A horizontal line on the previous top with value 16539 of the Top as per Line Chart.
.
Another Top line is drawn which has a value at 14959
.
7/n

Let go back to Candlestick Chart.
.
We are seeing a definite structure of a step by step fall from Top 18369.95.
.
Let us mark those Values and name it as follows
.
8/n

Top 18369.95
.
HL 16700.00
.
LH 18022.95
.
LL 16108.65
.
LH 17749.00
.
LL 16052.20
.
9/n

In which case the previous high is LH 17749.00 has to be crossed. That is its first resistance.
.
Next resistance LH 18022.95.

On The Fall:
.
It can continuously fall as a falling wedge too.
The nearest fall level is LL 16052.20.
.
10/n

Use Fibonacci Extension
.
Targets
100% 20687
162% 22129
.
11/n

Fall below LL 16052.20 Target can be the previous Top 14959.
.
If you may observe Line 16539 is a crucial line on which hinges the rise and the fall.
.
Weekly Close on 3Jul20 above 17749 may rise to 20687.
.
12/12