posting it because someone asked me to do so on twitter!!!!
let it come to the levels where it would be a favOur able risk reward as it is always better to not to take a trade then to take a wrong trade ...
i can be wrong!
Dabur has formed a rounding bottom pattern on daily and weekly charts.
Buy above: 317
Target1: 350
Target2: 375
SL: 296
PS: There are different school of thoughts on trading a rounding bottom pattern, i.e entry, target, SL. Please use the entry, target and SL as per your analysis.
Sometimes I get queries as Why not exact stops or target ? It will be more helpful for Us. Guys,
i) I don't know your capital
ii) I don't know risk ability you can afford
iii) I don't even know which trade setup or strategy you use to enter the trade on what timeframe
iv) I don't know how long you can hold the trade ( Intra or swing )
v) I don't know you are...
Outlook :
After posting a 52-week high of 1049, on 04th May 2017, stock witnessed profit booking in the last trading session, resulting into a “Bearish Engulfing” candlestick pattern, erasing all previous day’s gains. This pattern is formed generally at the end of an uptrend, or near a potential resistance and is a reliable reversal pattern
Moreover, we also...
