Apollo Hospital - Bullish Harmonic Pattern
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It is been observed that the price action is forming a harmonic bullish pattern on the daily chart indicating a bullish reversal in price action.
Target: 1200
Stoploss: 1140
Target: 1200
Stoploss: 1140
Trade active
Trade active
Comment:
Good time to re-enter at current levels SL 1140 on closing basis. Regards
Comment:
Going Good so far, indicating a strong up move ahead. Regards
Trade closed: target reached:
Target reached successfully, Regards
Comment:
Sometimes, Unnamed Harmonics patterns workout well if we understand them well. Now, previous gap levels filled.
Follow Up,
Regards
Follow Up,
Regards
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Comments
Pls Sir let me know which harmonic pattern this is? I am not getting it. Please guide
Reply
@pratiktech, Harmonic patterns are based on Ratio analysis and once given ratios of the price action matches together then it forms a harmonic or ratio pattern which describes a certain target with it. I would advise you to check out my educational post on the harmonic patterns mentioned under this idea in "Related Ideas" . Regards
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@NeeteshJain, Sir, I know its game of retracement I meant that whats the name of this pattern? BAT, Butterfly, Crab, Shark, Gartley or Structures patterns.. I hope this is clear Sir, Why i want to know is just bcas I am not aware of it.
Reply
@pratiktech, There is no specified pattern as such, and I have not even mentioned any of the said harmonic patterns. I posted it as I found it bullish. No other reason or any said pattern behind it. Regards
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@shakes70, Good, Today's close shall determine further price action. Regards
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Bullish shark must have CD extension between 1.618-2.24, it is possible we will see correction down a little bit more, however good to keep on radar.
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@razultull, Yes, you're correct about the Shark pattern and it does not support the ratio analysis. I posted it as I found Apollo Hospital bullish for a short term. Appreciate your feedback. Regards
Reply
@NeeteshJain, On daily & weekly charts, SUPERTREND has not yet shown a BUY signal. On weekly charts, it could take support at 200EMA, where there could be a short term bounce. So I would wait for a bit of confirmation. My view - I am not an expert.
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