The underlying chart gives us the data but it is important to look into the options chart for the trade. We normally wait for the breakouts to happen in the underlying chart but they happen way ahead in the options chart. By the time we take a trade in the options, it would have been late in options pricing. Below is the bank nifty options chart You can see...
It has entered into the PRZ of a Bearish Harmonic Butterfly suggesting a pullback/reversal in daily time frame till 340/335. View would negate above 370 Harmonic Butterfly Patterns usually indicate pullbacks of the larger trend (in this case the same being up) not major reversals. Such patterns are usually associated with breakout patterns and respective pullbacks.
Bearish butterfly with PRZ marked in chart. Trade to be entered only if a strong signal bar is seen AND RSI divergence is seen. Target = 38% retracement of CD. ** Study only for educational purposes, do your own risk assessment before entering the trade **
EMA and sma
intraday trade setup for study and personal obervations
Three Bullish Harmonic Patterns in alignment in Monthly Time Frame Gartley / Butterfly / AB=CD Ichimoku study also suggests a pullback to Kumo around 18000 View goes wrong if it moves below 11600
At bearish Butterfly PRZ level. Could retrace till 290. View gets negated above 325
BIOCON - Bearish Butterfly - TF 4 Hrs PRZ 242-244 SL 247 T1 237 T2 233-230 CMP 235.55 Date: 09/03/2019
Bullish Butterfly, but it is failing, as it is retracing from point B, not going towards D. Let's see.
trade with levels
Kotak target are Target 1 - 1350 and Target 2 - 1367. Any break above 1367 will take the stock up to 1417.
Go Long with tata motors. Chart is for education purposes only. Views are always welcome!
For a brief overview about harmonic pattern fundamentals, first go to the Post 1 of this series (link will be soon in the update section). THE BUTTERFLY PATTERN The pattern is recognized by the exclusive 78.6% of XA retracement at point B; and the 1.27 XA projection at point D. X-A: A strong leg which ends at an important Support/Resistance level. A-B:...
In the above chart, I have showcased a confluence or relationship between Elliott Waves and Harmonic Patterns. Where I have mentioned and pointed out time where they confluence and provide us a successful trading opportunities. Such confluence is simple to understand and provide a great reward over risk by initiating in them. I have attested below edcuational...