praveen.bhatiya

Big W Reversal Pattern

Long
NSE:BANKBARODA   BK OF BARODA
I've seen nice big W formation in the stock which could be used for initiating a long trade. Aggressive trade has already triggered as price pierced the yellow down sloping trend line and defensive trader could go long on closing above the 147. Reasonable Price Expectation as target : 166.
Disclaimer : All ideas and comments are my personnel view. Please take financial consultancy for trading decision.
Trade active
Trade active: Trade is doing as expected continuing with trailing SL.

Comments

praveen.bhatiya dr_professor_nifty
@dr_professor_nifty, So it could be a profitable trade now. :)
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dr_professor_nifty praveen.bhatiya
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dr_professor_nifty dr_professor_nifty
@dr_professor_nifty, but after buy not booked profit until it give some types of rfersal indication,minimum risk maximum reward
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praveen.bhatiya dr_professor_nifty
@dr_professor_nifty, Yes waiting for retest is very helpful however it does not happen always and sometimes good moves are missed in waiting.
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dr_professor_nifty praveen.bhatiya
@praveen.bhatiya, yes pullbacks hardly comes
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big accumulation at bottom sure
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praveen.bhatiya dr_professor_nifty
@dr_professor_nifty, yes it appears that all bad news have discounted and big fishes have used it for accumulation at lower level now they have to bring it up to make profit.
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