Federal Bank- Gartley & Trendline -Federal structure for 128-130

Jul 23, 2017

Below 116.50 - it could fall to the support of 114.50-115 - If holds shown by small red arrow & later getting support of red trendline & gartley last leg attraction can push the structure to 128-130 zone as the possible target zone which can be seen in coming weeks & months.

We need to see support coming in 114-115 zone for the last leg to push up & kiss the desired zone as expected above.

Let us wait & see whether this Trendline & Gartley last leg can unite to form this federal structure desired by the bulls for so many months. Once this structure completes & it faces resistance in 128-130 zone. You all know what structure it could be? don't you - It is bearish gartley - simple.

Bearish Gartley- what will you do - Please tell your answer in comments.

Have a nice weekend.

Jul 24, 2017

Trade active

24th July 2017

Correction - Pattern is not gartley - It is bearish crab pattern

Last 117.70 Call is not active yet. It activates below 116.50 for short term down till 114.50-115 - if holds then we plan to buy for last leg attraction.

Jul 24, 2017

Trade active

13:39 Hrs 24th July2017

Last Price@117.95

Pattern is just for reference & why it is not valid - a colleague asked me a question in comment.
kindly read harmonics & various types
name changed from gartley ( correction as suggested above) - It is crab pattern - so what
Haven't I given the execution level- Yes
Bearish Gartley was suppose to complete in 128-130 zone
Are we at that level- No

Please read how to execute the trade & do not become bias with patterns.
Patterns keep changing - Execution is fixed

Please read how to execute the trade & when to execute.

Yes -there is a correction in pattern name - instead of gartley it is crab - so what - I have changed the name- did it make any change -no
Because that pattern completes in 128-130 Zone.

Jul 25, 2017

Trade active

10:35 Hrs 25th July2017

Last Price@117.90

Opened at 117.40

Yesterday went close to 116.50 at 116.70 odd levels & opened at 117.40 looks like a small pop up in the zone 119.119.50 so we shall be looking some resistance in that zone but surely safe call is below 116.50 short term downside to 114.50-115 zone.

Jul 25, 2017

Trade active

10:56 Hrs 25th July2017

Last Price@118.65

heading close to 119.00 - 119.50 zone half distance covered.

Jul 25, 2017

Trade active

11:05 Hrs 25th July2017

Last Price@118.40

Turns from 118.70

Staying in long position is little risky so we will wait outside - do your own analysis as moving below 116.50 likely drags down to 114.50-115 Next.