RISE OF A DOUBLE TOP
Updated
Sun Pharma
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DOUBLE TOP __1 day chart pattern
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APRIL 27 tested a new high (504.80) and failed to break it. Almost after month+ it has risen above to its Previous HIGH.
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I would go SHORT around " IF THERE IS ANY RESISTANCE AROUND IT'S PERVIOUS HIGH OR IF THERE IS A SIGN OF A NEGATIVE CANDLE
( HANGING MAN ) IN THE NEXT FEW DAYS"
TARGET__ 475- 450
STOP LOSS __ HIGH OF THE RESISTANCE OR THE RED CANDLE YET TO BE FORMED
WARNING -- GO SHORT ONLY IF THERE IS ANY STRONG RESISTANCE AROUND PREVIOUS HIGH 504 (+3,-3) RANGE.
____
DOUBLE TOP __1 day chart pattern
____
APRIL 27 tested a new high (504.80) and failed to break it. Almost after month+ it has risen above to its Previous HIGH.
___
I would go SHORT around " IF THERE IS ANY RESISTANCE AROUND IT'S PERVIOUS HIGH OR IF THERE IS A SIGN OF A NEGATIVE CANDLE
( HANGING MAN ) IN THE NEXT FEW DAYS"
TARGET__ 475- 450
STOP LOSS __ HIGH OF THE RESISTANCE OR THE RED CANDLE YET TO BE FORMED
WARNING -- GO SHORT ONLY IF THERE IS ANY STRONG RESISTANCE AROUND PREVIOUS HIGH 504 (+3,-3) RANGE.
Note
Jun 5 3:05 THERE HAS BEEN A NICE RESISTANCE AROUND THE PREVIOUS HIGH (504)
Trade active
Inverted hammer formed at the end of the day.June 5Trade active
Another negative dayPrice@ 489
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