first, let concentrate on bullish ab=cd pattern with green color and point to be noted here is that candle exactly closed below point D of this pattern and we have a saying in harmonic analysis that if pattern is at exact harmonic ratio it can be hugely accurate.
Now second pattern i have made is shark pattern with green color and has kicked in at point D of ab=cd pattern, it may not fall that much but according to this shark, it can fall till 1916, but white trendlines each might work as good support and if broken downside they may turn into resistance.
Now if bullish ab=cd has been completed and shark has kicked in , for these two condition to work candle must never ever reach high of today`s candle or else it may invalidate whole setup.
There is one more thing, the previous pattern was butterfly as written on chart and according to this it may stretch till 2503 and today stock hit 2478 so there is not much difference and i would say stock may/may not hit 2503 and now for long side again , candle must close below this 2503 and do not long until this level is surpassed to be on safer side.
Long above 2503 only for targets 2573 and finale at 2679
good luck
this is for educational purpose only
Now second pattern i have made is shark pattern with green color and has kicked in at point D of ab=cd pattern, it may not fall that much but according to this shark, it can fall till 1916, but white trendlines each might work as good support and if broken downside they may turn into resistance.
Now if bullish ab=cd has been completed and shark has kicked in , for these two condition to work candle must never ever reach high of today`s candle or else it may invalidate whole setup.
There is one more thing, the previous pattern was butterfly as written on chart and according to this it may stretch till 2503 and today stock hit 2478 so there is not much difference and i would say stock may/may not hit 2503 and now for long side again , candle must close below this 2503 and do not long until this level is surpassed to be on safer side.
Long above 2503 only for targets 2573 and finale at 2679
good luck
this is for educational purpose only
Comment:
making good base at 2368 we can short more if this is broken
Comment:
2365-2429 is consolidation wait for range breakout or breakdown
Comment:
getting ready for 2500
Trade active
Comment:
it must close above lower blue dotted line first then will be ready for upper target
Comment:
maintain stop of only 2500 now on atleast 1 day candle close basis
Trade active:
2617 high made
Trade closed: target reached:
finally target has been hit it took time though
Comment:
beware in this stock now i will update if candle closes above our target ine
