Parallel Channel/Engulfing Low risk trade Long

LIC HOUSING FINANNSE

Description

⋅ Dec 11, 2018 8:02 AM

Prices have nicely formed Up sloping channel and today's Engulfing offers an opportunity to go long at current level. One can risk the amout of one bar only. Prices have bounced at retest of lower trend line . We can initiate the long trade as the details given below
Entry 431
SL 408(closing)
Target 492
Risk/Reward Ratio 2.65
Disclaimer : All ideas are my personnel view. Please take financial consultancy for trading decision.

Trade active

⋅ Dec 11, 2018 8:57 AM

Comment

⋅ Dec 13, 2018 1:00 PM

Trade is going well SL raised to 437 so it is a risk free trade now :)

Trade closed: target reached

⋅ Dec 19, 2018 8:56 AM

Stress Free trade did very well :)

Comments

AayanshMalik

⋅ Dec 30, 2018 1:43 PM

Please confirm can we buy on 490 for target of 520 in current senario cmp 488??

praveen.bhatiya

⋅ Dec 30, 2018 2:46 PM

@AayanshMalik, I will not buy it now as it has already done the target and already made 3 Drive on top reversal pattern.