Titan is about to form a XABCD harmonic pattern when it reaches around 920. Earlier during January it has reversed around the 920 range. So it can be a short candidate. Trade has not yet triggered.
Details on the chart, it's very interesting. Draw a triangle for the previous bull rally, copy & paste it on the current bull rally. It fits perfectly. The previous bull rally from Feb 2014 to March 2015 took 393 days and NIFTY went up by 3185 points. The recent bull rally from Dec 2016 to Jan 2018 took 399 days and NIFTY went up by 3277 points. The correction...
Hi All, Let's quickly get to the charts. I can observe a Bat pattern completed at 10180. This could be taken as a reversal trade setup with traditional targets at 10295, 10330 and 10365. So If this setup works I would be passively bullish for the above conservative targets. Only on break and close above 10420 (on this chart), I may again play for 10600....
Three things are very popular in TA: W and M shapes; Fibonacci levels; and Elliot Wave. And these three are the building blocks of Harmonic patterns. It has been observed that the frequently occuring W and M patterns have fixed levels of retracements and projections for each leg. And it is those fixed levels which differentiate one pattern from the other. So the...
NSE:TATAMOTORS Daily chart. A to B leg extended beyond 0.618% (Golden ratio) n retrace to 0.786%. Not a perfect ABCD pattern. But one can watch once if it crosses 440 levels. for the target of 500.
Explained in chart.... Disclaimer: All my post are for educational propose, non-advisory & non-directional.....
Hi fellows, hope you are doing great with your trading. I wish you all the best for the coming week. In my previous post I shared my observations with the expectations that the index will achieve higher levels in the coming days. Unfortunately, I had to take trades in the reverse direction, later in the week, in order to mitigate my losses. It is all part of...
NSE:HEROMOTOCO Weekly Chart: Hero just tested the 'D' level of AB=CD pattern (= 4100 zone) & facing resistance. Stock likely to test 0.618 of Fibo = 3236 level (Marked with white arrow). Bias remains bearish, But not safe to short as Risk Reward Ratio is not good here.
This pattern is different. As we observed in the previously discussed patterns, the C point never extended beyond point A. But this pattern is formed when C point extends beyond A. Rules: 1. X-A: A strong leg which ends at an important Support/Resistance level. 2. A-B: Point B should be between 38.2 to 61.8% of X-A leg 3. B-C: The leg which makes this pattern...
Notes on the chart. I ll try to put some examples..depends on response. Do hit Like and comment. Trade Safe, Be healthy. Enjoy the weekend. Regards Bravetotrade
Perfect ABCD Pattern. Tweaked little bit according to support & resistance. 50% passes thru small gap. See how price retraced.
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:...
I thought these cypher, Gartley patterns are tough until I learnt it is based on fibonacci ratios. Draw fibonacci levels from X to A. Point B should not close above 0.618 fib level. The point C should form between A and B. Point D should not close above 0.786. Now lets see how to trade this Gartley pattern. Sell at 0.786 with the stoploss of few points above it....
Hi, I am back with one more harmonic Pattern -- The CRAB For a brief overview about harmonic pattern fundamentals, first go to the Post One of this series (link will be soon in the update section). CRAB PATTERN In the BAT and the Gartley the price action in the last leg did not stretch beyond the Point X but In this pattern last leg stretches beyond X. In...
Hi, I am back with one more harmonic Pattern -- The Gartley For a brief overview about harmonic pattern fundamentals, first go to the link in the update section. GARTLEY PATTERN X-A: A strong leg which ends at an important Support/Resistance level. A-B: The most important leg to recognize this pattern. Should retrace exactly 61.8% of X-A. B-C: Should...
Whenever Raman, one of my best friend, sits in front of Television and hears a Technical analyst he could not stop himself saying," ho sakta hai wahan tak chala jaye..neeche bhee aa sakta hai..oopar bhee ja sakta hai..bc..inko kush bhee pata nahi aur hame bevakoof bana rahe hain". The psychological setup of people like him is so rigid that we can never convince...
BPCL: Harmonic BEARISH 5-0, Study Paper. This pattern mainly used in FOREX. Though also useful for Stocks much depends on Forex movement. Hence I choose BPCL. Some Facts: 1. On the chart, we notice that the price originally directed upward from the point 0 to point X ( where the point 0, shall be located below the point A ) 2. Further, the price makes a...