DUAL TRADE SETUP - POTENTIAL HARMONIC BAT

PUNJAB NATL BANKNSE

Description

⋅ Jun 19, 2017 5:51 PM

Hi,

A Potential bullish BAT pattern under formation on 60 mins chart of PNB.

Price broken higher time frame (4 hour) trend line & inching down, which gives us an excellent risk/reward short setup (BAMM move form B leg to D leg).

Trade levels as follows.

TRADE 1
( BAMM MOVE) - SHORT SETUP
ENTRY 147.5 or below
STOP 148.6
Target 143.8
Risk/Reward : 3.4

Once the pattern completes D leg, we will have a long setup based on the price action.
TRADE 2 - LONG SETUP
ENTRY 143.8
STOP 140.7
Target 1: 147.5 (38.2%)
Target 2: 149.8 (61.8%)

Trade with Care
Gulz

Trade closed: target reached

⋅ Jun 20, 2017 5:41 AM

Wow !!! Impulse to down & Trade 1 - Target hit.
Watch price action for Trade 2.

Trade closed: target reached

⋅ Jun 22, 2017 8:01 PM

Trade 2 : 1st Target Hit

Comments

DSKF16

⋅ Jun 20, 2017 11:50 AM

Agreed, also same View. Difference is Fresh Long @ 141.6

invst.ly/457cs

safri

⋅ Jun 20, 2017 8:28 AM

BAMM worked out really well. It was a pain-free trade.

gulz

⋅ Jun 20, 2017 9:58 AM

@safri, Yes, HTF trend line broken & it was supportive for the price action.