Shankey2191
Long

Low RISK High REWARD Setup #vodafoneidea

NSE:IDEA   VODAFONE IDEA LTD
548 views
5
Looking to buy the retracement of wave 1 (marked in purple) as close as possible to Rs 8, with stop loss at Rs 6.98 and an immediate target of Rs 12.5.

RiskRewardRatio is 1 : 4.5


P.s. Why i mention this trade could be highly rewarding is because, i have reason to believe we have started Wave 3.

Good Luck.
Cheers !
Comment: DISCLAIMER: This trade is for educational purposes only.
Comment: As close as possible to Rs 8.
Trade active: Finally!!!
Trade closed: target reached

Comments

Hi there, LLooks like your call is playing out well.

I had exited at 8.8..what would be a good level to re-enter? Between 7.5 to 8 or do you think there is a chance of going even below 7
Reply
Shankey2191 georgematt
@georgematt, Hi the count gets negated below 7. According to elliott wave rules wave 2 cannot go below wave 1. So anywhere ranging between 7-8 is good.
Reply
georgematt Shankey2191
@Shankey2191,

Hi there,

this pattern seems to be playing out still. What do you say? Do you think it will go up from here or is there more of a fall going forward?

Thanks in advance!
Reply
Shankey2191 georgematt
@georgematt, Only UP now to the target.
Reply
georgematt Shankey2191
@Shankey2191, Hi the resistance at 9.35 seems a but strong. Does the re-tracement to 12.5 still hold good?
Reply
Shankey2191 georgematt
@georgematt, YES. Looks good. Keep trailing your SL.
Reply
I'm holding at 10.40. will it bounce back within this week?
Reply
@SD2909, Cannot say within this week. But if my count is correct and we have started wave 3, then we shall see my levels very very soon. But its a good hold. I would also suggest holding till before 8th August, before the hearing.
Reply
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