Inverted 3LR Pattern/RSI Long

ASHOK LEYLANDNSE

Description

⋅ May 10, 2018 4:52 AM

If the risk to reward ratio of 3 suits, one can consider shorting the stock at current level with the SL of recent high for a target of 150.50. Reasons
1. Inverted 3LR pattern
2. RSI coming below from overbought
3. Small risk Trade

Disclaimer : All ideas and comments are my personnel view. Please take financial consultancy for trading decision.

Comment

⋅ May 10, 2018 1:11 PM

Please ignore the mistake in title and read it as an idea to Short the stock. Thanks to @nisarnadaf to bring to my notice.

Trade active

⋅ May 14, 2018 4:46 AM

Trade closed: target reached

⋅ May 15, 2018 8:50 AM

Great stress free trade.

Candlestick Analysis

Comments

apsp1963

⋅ May 15, 2018 5:19 PM

GR8 analysis, Praveen. Keep it up. Although I was on the wrong side of the trade today and I lost about 3000.

praveen.bhatiya

⋅ May 15, 2018 5:51 PM

@apsp1963, Thanks for your nice words and sorry to hear about your losses.

nisarnadaf

⋅ May 10, 2018 12:57 PM

I think you mentioned LONG instead of SHORT in the title. Anyways thanks for info.

praveen.bhatiya

⋅ May 10, 2018 1:09 PM

@nisarnadaf, You are right. It is a big mistake. Thanks for bringing to my notice.

nisarnadaf

⋅ May 11, 2018 6:21 AM

@Praveen.bhatiya, No Problem brother... Already short on Ashok leyland :)

praveen.bhatiya

⋅ May 11, 2018 7:03 AM

@nisarnadaf, Wishing you best of the luck.

praveen.bhatiya

⋅ May 14, 2018 8:37 AM

@nisarnadaf, Enjoy the nice move in the direction of trade :)

nisarnadaf

⋅ May 14, 2018 9:05 AM

@Praveen.bhatiya, Thanks buddy! Already enjoying the fall :)