praveen.bhatiya

Big W (Double Bottom) Pattern

Long
NSE:NIFTY   Nifty 50 Index
Nifty seems to making Big W pattern which is valid only if price closes above the confirmation line however swing trader can trade it now and ride the price upward till the confirmation line. IF price drops below the low of today one should close the position immediately. Mostly price stalls at the confirmation line for some time but if it trades above it one can expect the complete filling of peak in left side.

Disclaimer : All ideas and comments are my personnel view, please take advice of financial consultant for trading decision.
Trade active: So far it is doing well, continuing with trailing stop loss.
Trade active: Close to the double bottom target as mentioned may stall there so have placed the target at that price to book the profit.
Trade closed: target reached

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