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Fibonacci

BPCL: Harmonic BEARISH 5-0, A Study Paper.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 corrective move from point X to point A 3. Point B in this case is directed in the same way as the original trend of OX, and the point B is located at a distance 1.236 ( Criteria from 1.13 to 1.618 ) on the length of XA 4. Then we expect the formation of point C, which was 2.0 ( Criteria: should be within 1.618 — 2.24 ) of the segment AB 5. Once formed the point C and the price gone up, we construct a parallel channel by 3 points: the AC and hold a parallel line through point B . 6. At the same time about this 2nd parallel to the line and we will have is a point at which we will enter into a deal to sell, and it will be located at a distance of 0.50 Fibonacci segment BC . So it should be noted that AB = (or approximately equal) CD 7. Once we have determined the entry point to set aside an order to Sell — Sell Limit your selected volume, according to the rules of Money Management. 8. The next step — to set the Stop-Loss, I personally recommend setting for the next important level for the Fibonacci sequence. In this case on several level of Fibonacci sequence (like 0.618, 0.786) . I personally prefer in between above mentioned levels. 9. Next we define the goal of Take-PROFIT . Here it is up to you. Though a lot of variants (Discuss some of this): Option #1 . We can find important Fibonacci levels from trend upward movement to point B and put the profit levels 0.386, 0.618 , 0.786 Fibonacci Option #2. We can close part of the deal at the census point C, while the rest move to breakeven or to put on a trailing stop Option #3 . We can calculate the point of closing the deal on the Fibonacci extension — at a distance of 1.382 — 1.618 — 2.618 of the segment BC Intraday / Swing / Positional Entry Exit levels will be Updated later. For FnO Trader : STRATEGY on QUERY . If this post enriched your knowledge & helpful for trading, Please don't forget to Hit / Click Like button & Also SHARE Others Individual or Groups. Your likes are the only motivation to post better ideas in future. Disclaimer: Only For STUDY. For Taking Trade Decision Consult Financial Advisor.
NSE:BPCLEducation
by DSKF16
Glenmark Analysis !!Glenmark is showing some weakness. Let's discuss about the stock direction in coming weeks. there are two simple cases. First - If you follow the straight horizontal lines support theory then stock is currently sitting on it support levels. ( Price on the day of writing) In this case we could see long term up side movement. Targets not providing intentionally. Second - If Stock could break these levels then it will visit the second support levels soon. The target would be 832 then. Comment out and let me know what you think as per your study.
NSE:GLENMARKEducation
by Shashi_Y
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