Titan is in a Uptrend, and this Bullish Bat suggests a Buy at these levels. The PRZ is between 449 and 443. Can buy at current levels of 449 with sl at 443
Trade closed: stop reached
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Sl hit.. close and move on ! .. Harmonic Trading gives you very tight stops with large profit potential.. An apt trader never gets emotionally attached to the trade.. There are always ample opportunities ahead
Comments
gulz
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Hi,
Could you please advise regarding the ratios as they are not looking familiar to me ? especially the D leg ( i do normally look for 0.886 to 1.13) and B leg normally 0.382 0.616 ( 0.5 preferred for normal BAT & 0.382 for Alternate BAT) ?
shiv2798
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Sir poddar you please check 4 hours candles charts for setting SL because in 1 Hours you can't get exact Stop range , some time it's difficult to set Stop in small time frame, your work is excellent , but market sentiment took down the price action
ynpoddar
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@shiv2798, Hi Shiv. Its not a right practice to trade on H1 chart and set stops as per H4 or Daily charts... Losses are certain in markets, you cant avoid them.. But you can consistently win by keeping your reward/risk ratio high. In the past 20 days I gave calls in Bharatfin, TataSteel, IndusInd, Reliance, Maruti, Nifty, Titan... Out of this only Titan failed , that too with a tight stop loss ... If you kept a 2:1 reward/risk ratio, just see how much money you made in the above calls.
The beauty of Harmonics is that you catch exact tops and bottoms, so that your stops are very tight, and the reward is high.. See Maruti call, I made 4:1 on that.. I hope I sound sensible to you, Good Luck in your trading Friend :)
shiv2798
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@ynpoddar, Sir , I am extremely sorry for informing you about looking in for 4 H candle , I actually meant , Please follow 4 H candle in spite of 1 H , because 1 H is very small time frame where whipsaws will be high ,
I personally trade only with 8 H candle charts which is currently being provided by Zerodha PI ,
Thanks for your concern
Best regards
Shivakumar
ynpoddar
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@shiv2798, Hey Shiv, no need to be sorry :).. Its nice discussing with you ... For me, 8H charts would be too slow action.. I do analyse Daily charts also, but more of my trading revolves around H1 timeframe .. Regards
WaveTalks
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Targets -also you should suggest at times.
ynpoddar
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@AbhishekHSinghCMT, Targets are highly subjective, depending on individual risk appetites.. I personally aim for minimum 2:1 reward/risk ratio, then trail my profit as per market conditions..... Aggresive traders may opt for 1:1 too
Could you please advise regarding the ratios as they are not looking familiar to me ? especially the D leg ( i do normally look for 0.886 to 1.13) and B leg normally 0.382 0.616 ( 0.5 preferred for normal BAT & 0.382 for Alternate BAT) ?