UPL price action is now at a unique position. On one hand it is at all time highs trying to breakout above 720 but also formed a bearish AB=CD harmonic pattern.
Which one will prevail?
Breakout - if price closes above 720 & sustain further
Fakeout - If price closes below 720
Let's wait and see price action & see if we can enter Long or Short.
Which one will prevail?
Breakout - if price closes above 720 & sustain further
Fakeout - If price closes below 720
Let's wait and see price action & see if we can enter Long or Short.
Comment:
Still lingering around 720 - neither breaking out nor faking out. Wait for the price action to take action either way.
Trade active:
UPL has faked out unable to break the 720 barrier.
Enter short at 680 with a SL of 710. TP of 490
Enter short at 680 with a SL of 710. TP of 490
Comment:
Moving SL to 700
Trade closed manually:
Stock has been Resilient. Booking profit @665