Hello , Every one dont get confused with chart pattern , this charting is of 7 day candle , in order to reduce the noise i have used 7 trading days candle as single candle for
Identifying the pattern , Most of you will be using daily or weekly charting method ,
My view on BPCL is
It has entered in side way corrective pattern and visually appears it has completed its B wave leg , Now its due for its Wave c corrective leg down
Now when you look on daily you might see its trying make a rally , but one can wait for daily reversal and wait for Trend brake before entering the short sell
One can look for shorting 3 Months contracts in Futures as this will be time consuming pattern
Good luck
Trade active
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now one can wait for daily pull back set up for short selling in case they are not in the trade as off now
Comment
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we are booking form 561 to 370 , all 5 lots we are booking now and we are closing this trade until we see next move