This pattern forms after an extensive upside rally. It consists of a left shoulder, a head, and a right shoulder. The left shoulder is formed after a big bull rally in which the volumes are quite large.
At the end of the left shoulder, a minor correction takes place on the downside which happens on the low volumes comparatively the starting of the left...
TRADING STRATEGY: Sell on rise keeping SL of 174 and look for the target of 145 zone in coming trading sessions
Diagonal are the motive waves like an impulse wave, but diagonals are different from impulse wave in that they do follow the first two Sutras (rules of impulse wave) for wave analysis, but it does not follow the third one i.e. Wave 4...
Gail on a weekly time frame has crossed it resistance level and has closed above it.
The stock looks bullish and can make new ATH.
Daily time frame, there is a crossover of the moving averages which give another confirmation of a bullish rally.
Support :- 165, 160
Resitance :- 170, 177
The resistance are taken from the fib levels and previous high.
Gail has formed a Double Top pattern on the daily time frame and we have seen the breakdown on Friday, One can sell around 136 for the target of 105-103.
To motivate me, Please like the idea If you agree with the analysis.
InvestPro India Team
Gail has completed impulse wave of some degree as 1 to 5 and now is in correction phase likely to be a b & c, as per our view,
there could be a good probabilities of price to go down towards 125 to 130 zones, if situation goes as presumed then we can get any one trading opportunity from two options mentioned below.
First trading strategy option is
sell on rise...
On Daily Time frame it has broken 21DMA with Gap up and with good volume on 06-08-2021.
Also on 05-08-2021, we saw sudden sell off in 2nd half. But RSI made minor lower high while price action made huge lower low. This was a bear trap and panic sell off before the results. Results announced by the evening and it was good results.
Simple Trade Setup...
We have a 5 Wave impulse which is a Leading Diagonal forming as such that Wave 1, 2, 3 are complete and now Wave 4 is forming
Wave 4 is a Simple Correction because Wave 2 was a Double Three and now we have a Flat structure forming in the Wave 4;
We see Wave A and B both have 3 Wave structures and now the Wave C the Downward 5 Wave Impulse is forming and...
HAD RECOMMENDED THE FORMATION
FEW DAYS AGO WHEN THE RIGHT SHOULDER
WAS ABOUT TO BE FORMED
SINCE WE HAVE TESTED THE RIGHT SHUOLDER HIGH AND
REVERSED I WOULD LIKE TO TRADE THIS PATTERN
NOW ON THE SHORT SIDE
CAUTION TRADE AT YOUR OWN RISK
WE ARE TRYING TO CAPTURE THE TRADE EARLY
TRADERS CAN WAIT FOR THE BREACH OF 333 LEVELS
AND WILL CONFIRM THE
BREAK OF THE...
I m not sure whether old strategies in the trunk Got Me or I Got that, but now another trade setup in Gail, as this charts are like Holi colors, Gave away approx stop, target , Entry zone. Check with your plan before trading. But as far as now, Gail : I Got You :)
Note : That's a song by Bebe Rexha ( I got you ) with some fantastic beats, enjoy if you have time !