The stock has been bouncing from the same levels several times, hence the stock may bounce from there again. Hence Trades must be taken only below suggested levels of 1315 i.e Confirmation Level.
@TRADEWITHFUN247, T.A. gives you an opportunity to understand the movement of the price levels, and the formation of patterns may be 60 % probable as are other indicators. They serve as guidance for your trade & why not watch? There is nothing accurate to 100% in technical analysis.
TRADEWITHFUN247
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@tapanksur, how will you decide that this pattern is 60% ,50%, 70% or 100% probable do you know any formulae.....🤣🤣🤣🤣
tapanksur
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@TRADEWITHFUN247, simple there is no formula, the only formula is, follow the chart trend & depend 60% on its accuracy, rest 40% use your own knowledge.
TRADEWITHFUN247
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@tapanksur, question remains the same how would you know that you are 60% dependent on accuracy and 40% on your own knowledge.... how to calculate the dependence ...do you have any formula for that 🤣🤣🤣🤣 .... my advice for you is that by this extreeme % illogical ,off the paper calculation will make your trading complex and decision power weak... make a simple ,crystal clear process follow it 100% not 60% or 40% ... work on the process.
tapanksur
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@TRADEWITHFUN247, if i WANT TO get into an argument, I would say do not add 1+1, this is not maths, this is a technical analysis chart, which throws up data from what is happening in the live market & can be used to trade the market as a tool to arrive at a decision, whether to take the trade or not. If one understands technical analysis, it is like the Bible of the share market, but yes not the Bible itself, which rounds up my argument. Whether one wants to upgrade & equip himself with added knowledge, is entirely left to himself unless he is the next Nostradamus?
@InvestorsCorner, I want to say that technical analysis is not perfect I agree... it"s imperfectness should not encourage personal biasness.. as you can see here the pattern is not a considerable head n shoulder but because he is biased he is considering it by saying that technical analysis is not perfect.