2020(6)
Long Centurytex
Entry 490
Stop-loss 473
Target 590
Risk/Reward 1:6
I explain more about my analysis later in updates.
Long Centurytex
Entry 490
Stop-loss 473
Target 590
Risk/Reward 1:6
I explain more about my analysis later in updates.
Comment:
It looks like a pullback is completed, and now ready to continue on going up-trend with a flag breakout.
We are trading probabilities, we can't predict future prices, but we can trade what is probable as per our learning and experience.
We are trading probabilities, we can't predict future prices, but we can trade what is probable as per our learning and experience.
Comment:
Centurytex 513 trading at 0.618% retracement. Closing above 0.618& re will be a good bullish sign.
Comment:
Closed at 521.50 above 0.618 Re.
Comment:
Trailing Stop-loss to the Entry price and using a covered call, lowering the risk.
CMP 530 SPOT & writing 30JAN 560 CE at 7.60
CMP 530 SPOT & writing 30JAN 560 CE at 7.60
Comment:
Century Textiles New 52 Week High. 449.80
Comment:
Typo *549.80
Trade closed: target reached:
Century CMO 600. The target of 590 Achieved, It's a 20% Jump.
However, my gains are restricted to 15% or 77 Rs due to a covered call. But Still it decent gain.
However, my gains are restricted to 15% or 77 Rs due to a covered call. But Still it decent gain.
One thing i hate about all the chart patterns is placing a stop-loss at the pattern lows. That spoils a RR Ratio.
Bullish Flags are continuation patterns it assumes that the prevailing trend will continue after the breakout.
So why keeping stop-loss at the pattern low?
If the trend is strong then breakout will be as strong as a trend too.
I don't applying a re-test theory in my trading with short term patterns.
This are my views about trading short-term patterns. Critics are welcome to discuss.