TATA CONSUMER Bear Pennant Pattern
Can you see the Chart is speaking very clear?!
- 38.2% Fib retracement done from the Tops, and the Pennant was Counter trend in nature with a 3 Wave Advance
- On 10th November, we got confirmation to Short, Price also closed below 5 Day EMA and it has turned down sloping now
- Also notice how Price cannot sustain above Anchored VWAP from the Tops
- Price is heading back to 440- 420 on the downside
- Bearish view negates above 520
- Enjoy the Downride and avoid Longs since it was just a Pullback within a Bear trend
- 38.2% Fib retracement done from the Tops, and the Pennant was Counter trend in nature with a 3 Wave Advance
- On 10th November, we got confirmation to Short, Price also closed below 5 Day EMA and it has turned down sloping now
- Also notice how Price cannot sustain above Anchored VWAP from the Tops
- Price is heading back to 440- 420 on the downside
- Bearish view negates above 520
- Enjoy the Downride and avoid Longs since it was just a Pullback within a Bear trend
Trade closed: stop reached
View negated
Siddharth Bhansali
✔️Twitter Handle @T_Harth
✔️Twitter Handle @T_Harth
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Siddharth Bhansali
✔️Twitter Handle @T_Harth
✔️Twitter Handle @T_Harth
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.