1. On may 30,2020 I posted my first analysis on this stock till now even a single week missed my targets. Providing all statements chronologically as proof of precision with figures and dates for your consideration. In point no.1 of the same date, I clearly mentioned " Upper range in the form of an pattern has already made. Now the price will make a lower range." . You can see in that day figure setting below an pattern was made, circled in green was the upper range and lower range condition was also discussed in same post point no.2 " See I made red zone If this is taken out upside then the lower range will be formed and the price will move to upper range in the blue zone.". Here you can see the red zone is taken out forming a lower range. How confident was I about this manifestation?
2. For investors I wrote in the same post in point no.5 is quoting as proof " Investors wait to form a lower range of price either white zone or yellow. Then can board the bus to long sides." You can see at that red zone price never see back and gave you a good rally just in 40 days.
I did not stop at the first week of my post see in the second update on June 14, 2020, I wrote in the second para of blog clearly is quoting as proof " I circled a pattern called which is not activated yet But the beauty of this you will not be able to see in any books. I tell you the characteristic of this. See a big bull candle covered the last three days small candle on good buy zone with good Its effect would be seen if red dotted line is taken out on smaller time frame of 1 hr then you will see a rally to redline in coming days". You can see a decent rally till last day trading of this stock. Setting that day figure as proof.
3. Even I did not stop there in my 3rd update on 20 June 2020 wherein trading plan point no.1 what I sai is quoting as proof " You can see the white circle the blue zone is taken out on daily basis with good also circled in white. So the price is expected to move up with certain conditions." Please see in below fig about these circles, not in the current figure. In the same post point no.2, I gave the target achieved in the current fig.' I made a microzone this can act as resistance for time being and target is the upper red line " you can see red line target was also achieved in current fig. every week step by step I gave precise support, resistance, zones and contain to trade this stock. In fact not this every stock I cover in my blogs. All are available in my profile ideas.
Trading plan for next week.
1. As you can see the red resistance line is breached on the upside with a candle. If the next session close is above this candle high then you will see price moving to power red line as a target.
2. In case the next day is unable two fulfill the condition of point no. 1 then price will consolidate one two two days.
3. If the red dotted line with a yellow trendline in 1 hr and 1-day time frame then the price will come to a lower white line. I will cover my longs on fulfilling 1 hr taken out condition. If the white lower line is not taken out in both time frames then it would be the best place to re-enter longs.
4. For new traders taken out condition is as follows:-
Taken out condition works in the two-time frame combination for daily( 4 hr + 1 day) analysis. Similarly, work for lower time frames is also a two-time frame combination. For intraday trades 1 hr with 15 min. For taken out condition price has to complete in both time frames. Aggressive traders can take that side position in a lower time frame with the stop loss of breached candle low. In both the time frames given line is breached by a candle that candle high is to be breached by next candle and close should be above the previously breached candle. This is how taken out condition is being implemented. The rest price will decide.
Disclaimer:- All trading positions should be taken from consulting your financial planner. This study is for educational purposes only.