Hero moto case study
Updated
HERO MOTO SPOT CMP 2675
HARMONIC STUDY
TIME FRAME :- HOURLY
Bullish Bat pattern formation on hourly time frame.
PRZ in range 2670-2640
Reversal confirmation above 2730
pattern violation below 2600 levels
Upside retracement levels of 2780-2815 possible
Triple bullish divergence on RSI where price made lower low 3 time and RSI made higher lows
RSI have given breakout and retest of falling trend line and now on verge to break above previous high levels, indicate bullish price action ahead.
Descending triangle pattern formation , having breakout confirmation above 2690 levels ,, which would lead to measured move of 90 points ,,
Trade type :- Swing
-Time horizon :- 7-10 trading sessions
Good long candidate.
HARMONIC STUDY
TIME FRAME :- HOURLY
Bullish Bat pattern formation on hourly time frame.
PRZ in range 2670-2640
Reversal confirmation above 2730
pattern violation below 2600 levels
Upside retracement levels of 2780-2815 possible
Triple bullish divergence on RSI where price made lower low 3 time and RSI made higher lows
RSI have given breakout and retest of falling trend line and now on verge to break above previous high levels, indicate bullish price action ahead.
Descending triangle pattern formation , having breakout confirmation above 2690 levels ,, which would lead to measured move of 90 points ,,
Trade type :- Swing
-Time horizon :- 7-10 trading sessions
Good long candidate.
Trade closed: target reached
FROM 2640 TO 2780first targets is reached,,
140 points done
book profit,,
we have another positional study which have higher targets
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