Sell Mcdowells..Tgt Rs 1890..Stop Loss Rs 2240..cmp @ Rs 2140
Breakdown from Andrew Pitch fork, as well as pennant formation. Sell recommendation.
Comment:
Target achieved. Call closed
Your recommendation is working well: congratulations!
I have learned the PF trading by direct student of Dr. Andrews so wanted to share it for your benefit. He has insisted frequently that drawing a PF is not important but one has to observe carefully the price frequencies on it. To be a valid PF it should have multiple test/retests on Lower Median line (LML) or ML. The stock has 2 touches on the handle before point C but there is no touch on either LML or on ML thereafter(I don't consider opening of 12.09 as valid touch). One should be careful risking the hard earned money on a trade where drawing tool has no/less relevance to price action.
I have learned the PF trading by direct student of Dr. Andrews so wanted to share it for your benefit. He has insisted frequently that drawing a PF is not important but one has to observe carefully the price frequencies on it. To be a valid PF it should have multiple test/retests on Lower Median line (LML) or ML. The stock has 2 touches on the handle before point C but there is no touch on either LML or on ML thereafter(I don't consider opening of 12.09 as valid touch). One should be careful risking the hard earned money on a trade where drawing tool has no/less relevance to price action.
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Pavanji I am happy to see PF trader. If you like I can give my comments which unfortunately are contrary to this idea.
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