TradingView
thelastbull
Oct 5, 2021 10:04 PM

Bajaj Auto Wyckoff Accumulation Long

BAJAJ AUTO LTDNSE

Description

Wait for the breakout and then retest to enter positions with a very tight stop loss or just below the last point of support. This is called Wyckoff's Back Up to the Edge of the Creek Setup(BUEC).
We can get stopped 3-4 times but when we do catch the trade correct it will be worth much more because we have accumulation behind and a very favourable Risk Reward.
Comments
bhagat109
Interesting. It didn't breakout as planned ... so..what's the view now...looks like a further 100 points down to me.
what say?
thelastbull
@bhagat109, demand zone can be tested again if the downfall continues, but I think 3750 also a good support
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