X-point High@159.40 is critical level -Any breach shall violate the pattern downside we could look at swing high-B@152 as first target - 150-2nd Target & 146 as 3rd Target
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12:40 Hrs 23rd Sep2016
Trailing My profit stop at 155.25 - Trading At 154.70
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12:45 Hrs 23rd Sep2016
Trading at 154
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13:10 Hrs -23rd Sep2016
Trading at 153.60
Either we take profit of 40-50 paisa as entered at 155.80-155.90 zone & trailed my profit stop at 155.25 or we book at 152 -1st Target
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13:13 Hrs 23rd Sep2016
Trading at 153.80
Shall suggest that we should 50% here as 2 Rs down from 155.80 - Prices are travelling very slowly down & rest trail with 155.25
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14:30 Hrs 23rd Sep2016
Trading at 157.40
Thanks we are out of the stock at the moment
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14:37 Hrs 23rd Sep2016
Trading at 158.35
Earlier Swing High-X was 159.40 Current High@159.20
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14:50 Hrs 23rd Sep2016
Trading at 156.70
Who is selling DLF?
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14:51 Hrs -23rd Sep2016
Trading at 156.40
155.20 is the low as of the current session
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15:20 Hrs 23rd Sep2016
Trading at 156
Closing my position for the Day. Have a nice weekend
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08:08 Hrs 25th Aug2016
Good Morning To all & Wish You a happy Sunday.
The candle which turned from 159.20 just missing 159.40 & One can only see the excitement if he was part of this candle. I am still taking as Gartley till X@159.40 is taken out.
Before it takes out 159.40 in coming session do you really care -If you ask me -my answer is no because we have already taken 4.5 points in all from the first fall which was 155.70 to 153.60 & from 158.70 to 156 levels.
The candlestick which turned from 159.20 -made a wick or shadow on top & small body at the bottom- is known as "Shooting Star" candle likely shooting star candle is more effective when its body small cylinder is red in color whereas in this case it is green- still it is a shooting star. One check effectiveness of such candle in historical pages.
In coming session- we will see for retracement & once get any clue that DLF is looking downside- there is no doubt that if DLF starts moving below the day's low- it will fall further down.
So, let us enjoy the day & comeback to business on Monday-16th Sep2016.
Regards, Abhishek H. Singh, CMT
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08:22 Hrs 25th Sep2016
Sorry for typo above - "Monday -26th Sep2016"
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13:25 Hrs 26th Sep2016
Trading at 152
DLF has Big Red Candle Downside
Comments
QuestionMode
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Sir what type of chart pattern it is?
WaveTalks
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You feel its wrong
QuestionMode
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No, I am just asking for learning purpose.
I am new in Technical Analysis.
Thanks.
WaveTalks
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Its a harmonic bearish Gartley pattern XABCD. X@159.40
I knew little bit basics in trading(0-1 exp yr only), How do you pick your indicator that would show best results? would that be possible can I request your analysis on other indicator like elliot with fibo, S&R etc?
-Sidharth
WaveTalks
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Hi Sidharth,
Yaa- I will try my best to use in my future updates.
Regards
imdbestindiantrader
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I am happy to see you are helping newbies and sharing your knowledge with trading community. It is Not a perfect gartley but the setup looks promising. Happy trading.