Amit_Ghosh

Sintex Bullish Bat Discussion

NSE:SINTEX   SINTEX INDUSTRIES
We draw a primary bullish retracement like this picture to find the line where XD (actually it is called retracement of XA) is 0.886 and construct our tradebox (means entry, stop loss and take profit).

That green triangle is primary bullish retracement. The tradebox is following Risk:Reward = 1:2.

But the best way to put the trade box is to use Fibonacci. You can use any Fibonacci tool but in this example “Trend Based Fibonacci Extension” is used to see how much BC has been extended towards D in terms of Fibonacci.

As you see our entry is at 0.786

It is rightly consolidating on 1.618 level but one could have take profit or partial profit at 1.618 levels instead of 2.618.


Get trades instantly and discuss them with me at my Slack Channel @ https://unofficed.com/chat/

Our community is full with traders who actually trade!

Discord: https://discordapp.com/invite/qmnGD2x

Telegram: https://t.me/unofficed

Comments

Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out