NeeteshJain

Dabur - Bearish Gartley Pattern

Short
NSE:DABUR   DABUR INDIA LTD
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10
It is been observed on a daily chart that the price action forms a bearish harmonic pattern known as Bearish Garltey pattern where the D leg is near to 88.6 retracement levels of XA leg and also 1.618 Fibs extension of AB leg.
Now it shall retace back to 38.2% levels of AD leg at around 290 levels.

Target: 290
Stoploss: 305
Trade closed: target reached: Target reached successfully, Regards

Comments

XD leg retracement is not correct. Should be around 0.786
+2 Reply
NeeteshJain RaghunathHyd
Yes, you're right about it, I went too far while drawing it. The trade still provides good risk reward. Regards.
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Whenever it does sideways its like nightmare- which side will it break
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nirav5 NeeteshJain
1st pattern seems correct. It's More likely Bearish Butterfly. Although D leg would have been little bit higher for the idle scenario. But other levels 0.618, 0.786 seems harmonic.
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just a small observation : D point should not be above X for Gartley Pattern
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Yes, you're correct that D leg shall not move above 1 or above X. I have corrected it below


I guess this might work :)
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tikkuk NeeteshJain
yes now looks good.. but a bit risky trade before the US election result :-) ...
+1 Reply
You're right, it will be a high volatile day, look forward to it. Regards
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