Escorts Bearish ABCD and Implementation Idea

Intraday Idea -

As the RSI is in uptrend hence, Short if the low of this candle is breached with the day high as stop loss. Continue this each day till the intraday stop loss is hit for the first time. It will eliminate a the riskiness of this setup.

Postional Idea -

It has formed potential reverse zone as per harmonic setup as well as Support and Resistance setup. Short with take profit and stop loss as mentioned.

In case of Positional, update Trailing Stoploss on the blue line as mentioned.

Option Idea -

Short 760 CE of November as it has another resistance on top of it.

Comment:

On a note, this setup can end up in consolidation and hence is a risky setup as

1. The RSI is in up trend as of now.
2. The major resistance is residing at upper levels.

But it is a low-risk high reward setup. Worth the risk!

Comment:

Trade has not triggered yet as the low of the previous day is not breached.

Comment:

Trade not triggered yet. If this level is breached then effective PRZ should be at 760.

Comment:

Trade triggered. Shorted at 730. Stoploss at 744.

Comment:

Today it gapped up and again roaming inside the PRZ. Also, today is results making the technical setup risky. Personally, it was profitable for me as after closing at 722; I did not manage to roll over yesterday and hence looking for opportunity.

Comment:

PRZ is still valid as it is staying within the PRZ as per closing basis. Auto sales data may affect it irrationally but let's take the position of this month after stability comes.

Comment:

Just the note again - Don't initiate the short till month ends.

Comment:

It shot up today and reached the stronger PRZ barrier. Shorted at 78.35 with a stop loss at 800 closing basis

Comment:

Sorry I shorted at 783.5; That was typo.

Comment:

Closed today at 778. It has results today. No reason to play with fire.