nimbuz90

Inverted Head and shoulder pattern

Long
NSE:CENTURYTEX   CENTURY TEXT & IND
Inverted H&S pattern has been in formation for quite sometime since last month and as of now the prices are taking minor support at 1220-1230 zone. The pattern is completed and it is expected to push the price towards 1300 level. Will enter a small scalp trade at the current level of 1220-1225 for a target of 1240

Scalp:
Entry - 1220 to 1225
SL - 1210
Target - 1240

Positional Long :
Entry - 1225 zone or Above 1240
SL - 1190
T1 - 1260
T2 - 1275
T3 - 1285
T4 - 1300

For study purpose.
Thanks.
Trade active: Entered @ 1220
Trade closed: target reached: Closed my 1 lot of the scalp trade setup @ 1232. Made 12 point profit. Done for intraday.
Comment: Target 1 done on positional long. Revising SL to cost.
Comment: Target 2 done was done on 2nd may
Trade closed manually: Trailed SL of 1260 got hit later the same day and a big fall which we avoided by trailing the SL and locking the profits.

Comments

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