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Reasons/Traits :
• Bullish Gartley harmonic pattern is forming (gets confirmed if price goes and stays below 1254)
• Price below 13 EMA ready to touch 50 EMA
• Price is below 0.236 retracements levels
• RSI falling
What can happen next :
Scenario 1 : Price sustaining above 1265 levels can take it to 1285/1335/1365/1400 levels
Scenario 2 : Price break down below 1254 levels can take it down to 1227/1182/1135/1070/980 levels
Disclaimer : This analysis is only for educational purpose and not be considered as any trading idea/tip. Please consult your financial advisor before you take any trade and we are no way responsible for your profits/losses. Thank you!
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Gartley
NIFTY TO 17830 SCENARIO || BULLISH GARTLEY PATTERN|| DAT TFNifty could fall more if the price manages to close 17968 in day basis.
The breakout below 17968 could trigger a fall up to 17820 and then a sharp reversal can be seen.
The bounce could be up to 18150 from 17820.
Below the 17820 levels, the long unwinding may start. This should be the stoploss for longs.
Keep in mind, the RSI is at 50, if RSI falls below 50, then the fall could be faster till 30.
Best setup: Buy at PRZ ( between 17820 and 17720) when the RSI is near 30 or below.
Happy trading :)
This is just for educational purposes.
SOLANA (SOL) USDT PERPERTUAL PRICE ACTION ANALYSISSolana has had a spectacular run in the past 2 weeks. However, the price might correct a bit for a pullback as it is near a supply zone.
The XABCD bearish Gartley and Bat patterns had set a supply zone above which the price is struggling to sustain on the weekly chart. As we can see there's a bearish divergence developing on the RSI chart, i.e., the price is making higher highs but RSI is contradicting.
The XABCD bearish Crab pattern sets us a target of 278.
Trade Setup
1)Buy around 178 and put a stop loss below 137.
2)Buy on a pullback after breaking the supply zone/PRZ.
Keep trailing until 278. Expect strong resistance here.
Happy trading :)
This is just for educational purposes.
WaveTalks- Nifty: Bullish Gartley PRZ 17450-17475 (Target-17740)H.M. Gartley's most trusted harmonic pattern - Bullish Gartley could be right there in the zone 17450-17475 which is assumed to be potential reversal zone.
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Target
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1st Target upside - 50 Period Moving Average = 17675
2nd Target upside- 17740 - where fall started on expiry day @ 30th Sep2021
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Stop Loss ( Avoid trading )
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As a trader you should always know where you can go wrong. In current case - Potential Reversal Zone 17450-17475 can fail if Index fails to get the support.
Historically - 17430-17440 is another important zone which was 2nd Target in the idea published on 8th Sep2021 - Bullish Butterfly
TATA POWER Wait And Watch ??
Look for Low risk, High reward, and High Probability setups-
Things to Remember while Trading with the Trend
1. Know what the trend is.
2. The best trades are made in the direction of the trend.
3. Assume that the main trendline or moving average will hold.
4. The longer the moving average is, the better it defines the trend.
5. Wait for the pullback.
6. Don’t chase the market.
7. Don’t fight the market.
8. Even in the strongest trends there should be some retracement.
9. The closer the market is to the trendline, the better the risk/reward ratio is.
10. Use ADX to determine the strength of the trend.
11. Higher the level of ADX , the stronger the trend, below 20 consider the market to be choppy
12. Hold trades longer in a strong trend.
13. Wait for confirmation of a trendline breaking before reversing position.
14. Know where the Support levels are.
15. Place stops outside the Support levels.
Thank You..
ITC PRICE ACTION ANALYSIS AND TARGETS ITC gave a long-awaited breakout today. But, for more upside, ITC has to cross the supply zone/PRZ mentioned on the chart.
The XABCD bearish Gartley, bat, and crab patterns set the targets for the ITC price in the future.
The stop loss has to be placed below the demand zone. If the stop loss percentage is above your risk, consider as per your appetite.
Happy trading :)
This is just for educational purposes.
WaveTalks - Nifty: Double Top at 17430 (7th Sep2021)Short Video connecting the path which unfolded for Index Nifty after Bullish Gartley at 17055 –last idea & upcoming moves to be expected with key & critical levels.
Thanks for watching the video
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Last Idea- 2nd Sep2021- Bullish Gartley at 17055
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Ashok Leyland At CmpBuy At cmp
Stop Loss 112.40(CLOSING BASIS)
HEY TRADERS,
THIS PREDICTION IS BASED ON A HARMONIC PATTERN AND THE HARMONIC PATTERN IS 100% ACCURATE AND10000% RISKY BECAUSE IT IS AGAINST THE TREND METHOD...
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~Disclaimer: "I Am Not Sebi Registered Advisor" All views and charts shared in this terminal are purely for knowledge and information purposes only.
Part : 3 Crab or Gartley on Reliance (Harmonic)Howdy Traders ,
Exactly 61.8% retracement of XA leg which required for two pattern - 1 Gartley and, 2. Crab.
For the Gartley pattern, The price should respect of X but here price already fallen 1.13 which is not suit for Garley .
There are two possibility as per following:
1) The price will not break recent low or 1.618 AB = CD.
2) For the Crab, pattern D point should be more than 2AB=CD which possible for Reversal.