@CautiousChartist, Not a full formation of H&S - the 1st shoulder is 1/2 way to the neck line.
CuriousChartist
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@alark123, While you wait for a full formation, I will be in profit during the same time. Charts are mere signals. Faster u understand price action and act the better.
krala123
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@CautiousChartist, Yes and No, the right handle isn't complete...
CuriousChartist
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@alark123, The analysis triggers at 1660. To trigger that it has to complete. Simple ! If you want to be a good trader, learn to read the chart even before any tom dick and harry can spot a clear Inverted HnS pattern because every novice trades on breakout. There are many signs telling in advance that it will complete the formation.
krala123
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@CautiousChartist, Thanks for the reply and elaboration. The stock's looking good in line to the view you have had.
Do you think it would be too adventurous to buy an ATM (or near strike OTM) for Oct exp.
Thanks again...
CuriousChartist
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@alark123, I find options way too risky. I only trade in cash equity. Once the target is set, I know it will hit most of the times. What I cannot control is time.