POTENTIAL BEARISH BAT (SHORT SETUP) ON JET AIRWAYS, DAILY CHART
On JET Airways daily chart, we have a potential Short opportunity at the D leg completion of bearish BAT setup .
The price reversal zone is between 534 & 562
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.
Stop loss would be placed above X leg structure support .
Target 1 - 459
Target 2 - 413
(When looking to take targets on the bullish Bat Setup the first step is to use your Fibonacci retracement tool. With your Fibonacci retracement tool draw from the A to D leg, you are looking for target 1 at the 38.20% and target 2 at the 61.80%. )
To protect the profits you have accumulated at target 1 it is advised you move your stop loss to breakeven once the 38.20% target 1 has been attained, thus giving you a risk free trade to target 2.
Trade with Care
Gulz.
The price reversal zone is between 534 & 562
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.
Stop loss would be placed above X leg structure support .
Target 1 - 459
Target 2 - 413
(When looking to take targets on the bullish Bat Setup the first step is to use your Fibonacci retracement tool. With your Fibonacci retracement tool draw from the A to D leg, you are looking for target 1 at the 38.20% and target 2 at the 61.80%. )
To protect the profits you have accumulated at target 1 it is advised you move your stop loss to breakeven once the 38.20% target 1 has been attained, thus giving you a risk free trade to target 2.
Trade with Care
Gulz.
Comment:
Daily & Weekly trend lines (detailed view).
Comment:
Price approaching to PRZ
Trade active
Trade active:
Price respecting the resistance trend line - Good going
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