Auropharma- Doji to Give Up Leg from 648 -Help forming Triangle
What is a 'Doji'
Doji candlesticks look like a cross, inverted cross or plus sign. Alone, doji are neutral patterns that are also featured in a number of important patterns. A doji candlestick forms when a security's open and close are virtually equal for the given time period and generally signals a reversal pattern for technical analysts.
The price action on daily chart of auropharma had a doji candle having a low@648 -Now any move above 660 & keeping 648 low intact should help give us a required push upside.
The overall pattern looks like a triangle where 710 is a key level on upside.
Trading Strategy
Looking for pullback which holds 648 on downside & later moving above 660 shall give us upside buying opportunity.
Previous Update
Auropharma -710 haunts - we got selling from 675 to 660 & lower.
Trade active
09:28 Hrs 13th April2017
Last Price@662
Crossed above 660
Trade active
13:57 13th April2017
Got a chance to enter in 654-657 above 648 levels which should be intact for the upside move.
Trade active
20:04 Hrs 17th April2017
Last Price@652.85
We need an impulsive push upside & largely above 665-recent high to give us confidence for next leg upside.
On down side 648 should not be breached.
Trade active
12:28 Hrs 18th April2017
Last Price@672
Heading close in the zone of 675-680 as expected - Awesome!
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.