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Double Top or Bottom

Basic Pattern: explanation of DOUBLE TOP. 1) Prior Trend: For the double top pattern, the prior trend must be up- trend for several months. 2) First Peak: Normally, this peak will be higher peak of current trend. 3) Neck Line: From the prior trend, neck-line should be 10% to 30% normal case. The lows are sometime Rounded or drawn out a bit which can be sign of low volume and low demand . 4) Second Peak: Price moving from neckline to second peak will be low volume. Ususally second peak within 3% of the previous high (1st peak) is called 2nd peak. 5) Decline from peak: Price decline after reaching the 2nd peak with high volume and marke a GAP or two.
NSE:SBINEducation
by Trade-Technique
74
Tata Coffee-Enjoy the Coffee in The Cup Thanks for your precious time & do put your feedback below in comment section - I would love to hear from you. Most of us can learn as well - ----------------------------------------------------------------------------------------------------------------------------------------- Correction - Sorry using "circular shape" over the video - Its a curve shape from 168 to 185 - silly mistake -happens. ----------------------------------------------------------------------------------------------------------------------------------------- Trading Strategy Plan A - 19:57 Hrs / 14th March 2019 Last Price@95.35 Buy If you get dip somewhere close to 90 & 85's - obviously you should throw away the cup if 80 gets broken that should be understood. Target 1 120-140 Target 2 Above 140 - 175-185 Target 3 Above 185 - It should not move below 175 post crossing 185 highs then look for 250-280's as suggested over the video. ------------------------------------------------------------------------------------------------------------------------------------------- Image of the Coffee on 26th Aug 2018 Enjoy the Coffee in The Cup - With Double Bottoms@80 Cup & Handle Pattern A cup and handle price pattern resembles a cup and handle where the cup is in the shape of a "U" and the handle has a slight downward drift. The right-hand side of the pattern typically has low trading volume, and may be as short as 7 weeks or as long as 60-75 weeks- roughly a year and half. The fall from 185 in Nov 2017 shall complete a year in Nov 2018 so that would be the period or time zone plus couple of months more- one should be alert as its aroma could spread across the globe & everyone would be interested to take a sip. Cup and Handle Stops and Targets A profit target is determined by measuring the distance between the bottom of the cup and the pattern’s breakout level, and extending that distance upward from the breakout. Successive breakout zone shall be above 175-185 & I am taking conservative target measuring 85 points which is depth of the cup above 168-170 zone or above 185 as shown over the video, which gives a roughly target zone of 250-280. Once it breaks out & above 140 key level –make sure it never returns back below 140-135 zone else that could be risky. --------------------------------------------------------------------------------------------------------------------------------------------- Trading Strategy Suggested on 26th Aug 2018 --------------------------------------------------------------------------------------------------------------------------------------------- Trading Strategy Long Term Strategy Plan A – Wait for the stock to cross 140 & upper trendline of the handle & maintain stops below 135 once it crosses above 140 – Target Zone -175-180 & Above 185 – as 250-260. Plan B - Look to buy above 175-185 zone & keep in mind –price should not dip below 175 after crossing the zone of 175-185- Target Zone 250-260. Plan C - Plan to buy in 80-85 zone with strict stops below 80 – if goes below 80 –Throw the broken cup. Short Term Strategy Plan A – We look to sell from 115-117 zone with stops above 118.50 for target 112 – 106- 101 Plan B – Buy above 118.50 for 121-123 zone - book & out. Plan C – Sell from 122-125 zone with strict stops above 128 – Target zone -118 -112-106 - 101 --------------------------------------------------------------------------------------------------------------------------------------------
TEducation
by WaveTalks
10
APOLLO TYRES || ON A TRICKY TERRAINApollo Tyres on a weekly chart has taken support at levels of 192-193 and has bounce back giving a divergence on the RSI from a oversold region. The MACD also is showing convergence. A major part of the move has already taken place from 193 to 220. What needs to be seen is as to how far would this upward move go with Fibonacci retracements placed at 224.5, 235 (for move from 244.85 to 193). Interestingly 235 was the level from which it gave way and move towards 193 and so it needs to be seen as to how does it behave at those levels. Would be taking a back seat and seeing as to how far would it go before turning around. I would appreciate if someone can put a number to the move and back it up with their explanation on the same.
NSE:APOLLOTYREEducation
by thechama3
4