Titan - Go Long before short
Updated
Titan is making H&S pattern at the peak of its uptrend. Looks to be a good case of probable trend reversal.
Once right should is complete titan can go as low as 520.
Apart from H&S pattern Titan is also making bearish triangle pattern, making lower highs while not making higher lows. Once the triangle is broken on the bearish side it will complete H&S pattern boosting further downside.
However before completing the right shoulder titan can go in a range-bound movement. Let's take that trade before shorting it
Buy Titan above 600
Target 614
SL 575 on closing basis or 585 for intraday
If titan hits Sl then Short titan below 570
Once right should is complete titan can go as low as 520.
Apart from H&S pattern Titan is also making bearish triangle pattern, making lower highs while not making higher lows. Once the triangle is broken on the bearish side it will complete H&S pattern boosting further downside.
However before completing the right shoulder titan can go in a range-bound movement. Let's take that trade before shorting it
Buy Titan above 600
Target 614
SL 575 on closing basis or 585 for intraday
If titan hits Sl then Short titan below 570
Trade closed: target reached
Didn't know the target will be achieved in 1 dayProfit = 616 - 600 = 16
If you traded in 1 lot, your profit = 16 * 1500 = 24000
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