On DLF Hourly chart , we have a potential Short opportunity at the D leg completion of bearish BAT setup . The price reversal zone is between 153.5 & 155.5
Note : The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.
Stop loss would be placed above X leg structure support .
Target 1 - 148.2
Target 2 - 144.6
Target 3- 140.5
(When looking to take targets on the bullish Bat Setup the first step is to use your Fibonacci retracement tool. With your Fibonacci retracement tool draw from the A to D leg, you are looking for target 1 at the 38.20% and target 2 at the 61.80% . )
To protect the profits you have accumulated at target 1 it is advised you move your stop loss to break-even once the 38.20% target 1 has been attained, thus giving you a risk free trade to target 2 & so.
Note : Pattern will be triggered only if price reaches the PRZ, if price do not comes the zone means the pattern invalidated and setup will be discarded & we will look for other opportunities.
It is always important to have favorable risk/reward ratio for any trade.
Trade with Care
Gulz.
Note : The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.
Stop loss would be placed above X leg structure support .
Target 1 - 148.2
Target 2 - 144.6
Target 3- 140.5
(When looking to take targets on the bullish Bat Setup the first step is to use your Fibonacci retracement tool. With your Fibonacci retracement tool draw from the A to D leg, you are looking for target 1 at the 38.20% and target 2 at the 61.80% . )
To protect the profits you have accumulated at target 1 it is advised you move your stop loss to break-even once the 38.20% target 1 has been attained, thus giving you a risk free trade to target 2 & so.
Note : Pattern will be triggered only if price reaches the PRZ, if price do not comes the zone means the pattern invalidated and setup will be discarded & we will look for other opportunities.
It is always important to have favorable risk/reward ratio for any trade.
Trade with Care
Gulz.
Comment:
Price approaching to PRZ
Comment:
Can we expect RSI BAMM on this trade ? hope so
Trade active