On Lupin 15min chart we have a potential Short opportunity at the D leg completion of bearish BAT. The price reversal zone is between 1509.9 & 1520 The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.
Potential targets for the BAT setup placed at the .382% and .618% retracement of the C to D move. Stop loss would be placed above X leg structure support .
Target 1 - 1482 Target 2 - 1457
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Please correct the timing of chart as 60 mins* (instead of 15 mins), sorry for the typo.
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Educational interest : (Reversing failed pattern tips) The entire PRZ must be tested with initial reaction complete. A continuation of the predominant trend usually occurs after the price action has tested the entire range of harmonic numbers in the PRZ. Although the extent of this nominal reaction varies, the price action usually does not retrace beyond the limits of the harmonic zone. Essentially, the initial test yields only a minor consolidation before resuming in the predominant trend to exceed the PRZ. • Respect the Terminal Price Bar. The Terminal Price Bar—the initial price bar that tests the entire PRZ—establishes the defining limit for the violation of the PRZ. Furthermore, the Terminal Price Bar defines the reversal entry with respect to the failed PRZ. • Precise Stop Loss Limits. All stop loss limits must be defined well in advance, and they usually are based upon the range of the prior PRZ and the extreme of the Terminal Price Bar.
@Dipak___Z, No, we need to wait till the price to reach potential reversal zone ( zone explained in chart description), then watch price action & look for short opportunities. ( pull backs in shorter time frame/RSI divergence etc..)
Dipak___Z
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@gulz, yeah shorted it for Pull back intraday lets see 1480/75 within 40 min
@Dipak___Z, Why you take so much of risk ? , When there is information available, Pattern is visible, Why go short until the pattern complete?? , Why so hurry ?
you should look for potential reversal set up in Price action , ,,,, ,,,,,,,,,,,,,,,,,,,,,,,
Why ????????????????????????????????????????????????????????????????
Dipak___Z
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I am new to this that's why but will learn from you guys, don't know much about Indian stocks, Just trade over brokers call, they are also not good and that huge brokerage I am confused please help In this Indian Market very slow. That's why I keep asking always
Dipak___Z
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@Dipak___Z, In this trade I able to achieve 0.3 % broker will take 0.11 out of .3 so that's how I am learning I don't understand how to choose stocks
For Intraday but only sticks to few like Lupin, SBI, Idea , Gabriel India , Tata Motors etc
shiv2798
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@Dipak___Z, you ask N Number Question if its not answered by one then some one will answer for you, its learning center or you can take guide form each one , If your broker is advising you and you trade according to his advise then , Why don't you follow the same here ? because this pattern is not only the example there are may things , so follow here with caution of your risk to reward
if you want to learn the Technical analysis then , Join course and learn it then go through the other members idea or details in charts try understand that will be easy for you ,
Good luck