Nifty - Budget 2019 -H & S-Pattern Failure at 11625

What is a trendline
A trendline is a straight line that connects two or more price points. Extending this line into the future, it also acts as a line of support or resistance. There are two types of trendlines—the up trend and the down trend.

Trendline Rule
The general rule in technical analysis is that it takes two points to draw a trend line and the third point confirms the validity.
Trendline can be a neckline / support line as explained in the Head & Shoulder pattern in current scenario.

Trading Strategy

Plan A
Sell below 11930 with strict stops above 11975 for targets
11875-11890
Below 11875 – 11830-11845

Plan B
Buy in the zone 11830-11845 with strict stops below 11800 for targets
11950-11975
Above 11975 – 12000-12050
Above 12050 – 12100-12125

Plan C
Sell below 11775 with strict stops above 11815 for targets
11700-11625/11650
Below 11625 – 11500/11525

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Previous Ideas
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29th April 2019 - How will you sell - X-wave mission

13:06

15th May 2019 - We got Gartley M

07:06

11th June 2019 - Head & Shoulder with Right Shoulder at 12000

Trade active:

09:57 Hrs / 5th July 019

Last Price@11965

Risky Traders Call - Sell below 11965 for 11930 / 11890 with strict stops above day high@11982

Trade active:

11:02 Hrs / 5th July 2019

Last Price@11949

Current Session low- 11926

1st Target Done suggested for Risky Traders at 11930.

Trade active:

11:53 Hrs / 5th July 2019

Last Price@11900

Day Low@11881

Its a century for the index from 11981 to 11881

Trade active:

13:38 Hrs / 5th July 2019

Last Price@11845

Day Low@11800 - Exact

Plan A - Complete Target Achieved - 151 Points (11981 to 11830) - What is your Plan B ? No Plans Then did you check Plan B in the idea above.

Trade active:

13:58 Hrs /5th July 2019

Last Price@11855

Day Low@11800 - In The Plan B

We are in Plan B now which is buying in 11830-11845 with strict stops below 11800 - Index turned exactly from 11800 lows - Wow!

Can we see plan B happening next- Let us wait & watch!

Follow proper risk management & have a wonderful day. Thanks

Trade closed: target reached:

Thanks