a thing which struck me about this scrip was how beautifully in sync the higher and lower timeframe pitchforks are. Moving as one.
The scrip formed a bullish harami/doji right on the lower parallel line with a long lower tail. So the recent correction maybe over?
Next couple of days should be interesting.Will keep an eye 👀
**I will be posting ideas for my own journal-ing and learning sake and to hopefully spark up educational discussions. Please do not construe them as recommendations as I am just an amateur here to learn :)
Trade closed: target reached
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Trade closed at 163. Price has hit upper median line of pitchfork( draw a modified PF using low 28july, high 6 Aug, low 20 Aug which are the last major pivot points)
hey brother , you dont think it could reach 180 easily now? because of the gas price revision and rising channel in daily tf
NNiveshak
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@SK_tron, hey I replied to this but it is not showing up here. Maybe because I tried to post a chart image.
yeah so, I am not knowlegeable enough to comment on that. I just trade based on technical signals for short term gains of 10-12%. I am happy to cash out here :)
SK_tron
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yes brother, been following the same, good candle made yesterday, what target do you expect by end of next month?
NNiveshak
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@SK_tron, I will see how it pans out. Got to see how it reacts around previous swing high of 160(if it gets there ;) ). If there is no weakness, my target would be the median line (solid blue line). Next week/month/3months I dont know when.
SK_tron
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@NNiveshak, any idea what is happening now? going down when the sector is actually going up! what are your thoughts?
NNiveshak
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@SK_tron, it looks good to me for more. Made a nice bullish kicker on good volumes.