On Ashok Leyland 30min chart, we have a potential Long opportunity at the D leg completion of bullish BAT setup .
The price reversal zone is between 87 & 86.
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.
Stop loss would be placed below X leg structure support .
Target 1 - 89.4
Target 2 - 90.9
(When looking to take targets on the bullish Bat Setup the first step is to use your Fibonacci retracement tool. With your Fibonacci retracement tool draw from the A to D leg, you are looking for target 1 at the 38.20% and target 2 at the 61.80%.
To protect the profits you have accumulated at target 1 it is advised you move your stop loss to breakeven once the 38.20% target 1 has been attained, thus giving you a risk free trade to target 2. )
Trade with Care
Gulz.
The price reversal zone is between 87 & 86.
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.
Stop loss would be placed below X leg structure support .
Target 1 - 89.4
Target 2 - 90.9
(When looking to take targets on the bullish Bat Setup the first step is to use your Fibonacci retracement tool. With your Fibonacci retracement tool draw from the A to D leg, you are looking for target 1 at the 38.20% and target 2 at the 61.80%.
To protect the profits you have accumulated at target 1 it is advised you move your stop loss to breakeven once the 38.20% target 1 has been attained, thus giving you a risk free trade to target 2. )
Trade with Care
Gulz.
Trade active:
Price already hit PRZ, price action is good so far. Long entry suggested inside PRZ
Trade active:
Crossed 88 & heading towards first target
Trade closed: stop reached
Comment:
Watching the price action @ 1.13XA ( experimental purpose)
Comment:
it makes more sense