TATA Steel Short trade setup- March
Updated
Educational purpose only: herein TATA steel has marking Expanding Triangular pattern at wave ((B)) position.
It was a very rare scenario . Only 5% possibility for this type of correction. And same time wave ((B)) Retracement has been completed 50 % of a wave ((A)) with Expanding Triangular.. here Metal index formed FLAT correction.. this on of the main confirmation. Why I am saying this TATA stell main contributor to Metal index.
* Fib proportion 50% of wave A
* Second confirmation Metal index flat correction beginning.
* Clear pattern.
* Quality of the wave formation. Perfectly identical pattern.
* It right time to short trade.
*Support level 920-880.
Now we target to wave ((C)).
It was a very rare scenario . Only 5% possibility for this type of correction. And same time wave ((B)) Retracement has been completed 50 % of a wave ((A)) with Expanding Triangular.. here Metal index formed FLAT correction.. this on of the main confirmation. Why I am saying this TATA stell main contributor to Metal index.
* Fib proportion 50% of wave A
* Second confirmation Metal index flat correction beginning.
* Clear pattern.
* Quality of the wave formation. Perfectly identical pattern.
* It right time to short trade.
*Support level 920-880.
Now we target to wave ((C)).
Note
Update for Enter a trade ....Similar time frame wave counts are mentioned in this snapshot
Enter a trade for short 1350 -1375
Target level minimum = 1220 may be go long....
Trade active
Right time to Take trade with stoploss
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