Hare Krishna !
The Below is for the ardent seeker.
Would you believe if i say that the "REAL PROFFESIONAL FUND MGRS" DO NOT take trades of patterns like Harmonics,H&S or Elliot Waves...
When i got a chance encounter with a few billion dollar Investment Managers & asked them about above patterns THEY LAUGHED...
Don't believe all the things you find on the...
Crude has been moving sideways for the better part of the day and now looks poised for a down swing.
The trade setup provides an excellent risk-reward ratio. Entry on break....still awaited.
All the best!
The Energy sector is weakening.
Further news of Imports which may hit the bottom line.
Already the picture is bleak as the average Asian gasoline profit margin this year as of Sept was $4.12 a barrel, down nearly 45% of its value when compared to the same period in 2018.
Trade Execution :
The 230 PE for Sep 26 expiry is trading at 1.60 odd & Cash Price is at...
There is a double bottom formation in the Crude oil weekly time frame , if the price closes above the entry point indicated in the chart we can take a long position with expected target indicated
DISCLAIMER : All the articles posted are for analysis purpose only , any trade taken shall be under your own analysis and risk
looking at the chart and price action combining fundamentals together I see gold could almost reach near to life high ( no where i say it will make a life high) IN NEXT 1 AND HALF YEAR ( 18 months) time period
TREND ANALYSIS
Trade Setup
Follow Chart Instruction.
Do not be Hurry for entry.
Wait for Proper Entry Setup.
Buy/Sell with Best Risk Reward.
Educational Chart Only.
You can Comment and ask the TREND ANALYSIS of any STOCK/SCRIPT/INDEX/FOREX.
R:R is 1:10++
MCX Crude Oil For Indian Commodity Market.
So be Caution On long buildup in Crude Oil.
Touched the upper range of triangle as per chart , not showing strength , making an inverted hammer right on trendline resistance , expecting good downfall .
On technical hand, Crude oil has formed a XABCD pattern, which gives strong trend reversal signal.
The target would be as follows (shown by green dotted lines):
T1: 55.29
T2: 53.62
T3: 52.93
T4: 51.73
Stop loss (shown by red dotted line): 56.67
On a daily time frame frame as well, crude oil has a pennant formation, which can break at a downside.
