forextidings

TATAMOTOR'S trading strategy for the day traders

BSE:TATAMOTORS   TATA MOTORS LTD
This trend of TATAMOTORS made the Elliott wave pattern. After the fifth wave, there is a symmetrical triangle. If there is a breakdown of a lower line of the symmetrical triangle, the target will be 120.60. But if the consecutive candles cross the upper line of the same triangle, the target will be 153.60.
In the Elliott wave pattern, 2nd wave is 100% retraced. In the third wave, there is a contracting triangle.

An Important suggestion for traders: be aware of fakeouts.