2X Target done in Hind petroleum after forming inverted head & shoulder pattern I decided for the target of 12 % but it crossed the target like rocket and given 21% return till now and never touched it down again. now it has passed the retest from target line for more bigger targets and now trading around 52 week high. Enter with small SL after breaking the...
Wave 3 extended 161.8% of wave 1, and we can see a powerful rally in an extension of wave 5.
Hind Petrol Futures can hit the following targets before Oct end.
Target 1: 352
Target 2: 389
Target 3: 400
Where can we enter? The following rules can help you get the perfect entry.
A. Upper band of the parallel channel at 290 .
B. High of 3rd wave at 312 .
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⭕Technical Reasons to trade or Strategy applied :- ⭕
1) Long Term trendline resistance
2) accumulation can be seen clearly
3) there is a inverted Head & shoulder pattern as well
1) On 15min time frame, we can see there is hidden bullish divergence is formed. As price is making higher lows and RSI is making lower lows.
If tomorrow it sustain above 300 level then we can see upmove.
Please refer below chart : 15 Time Frame.
In this self explanatory series I will be posting charts with pure technical analysis only without full length explanations , Traders can ask their doubts in comments section, Happy trading.
Disclaimer : This idea was to just give you an insight about my own view and personal observations. Please do your own research or consult an investment advisor before doing...
invere head and shoulder in hindpetro ,
such an wow pattern ,
one should definetely touch this one stock
but perfect is always doubtful
so with small stop loss bet on it
We have seen inverse head & shoulder pattern on daily chart of Hind petro share. A very high probability setup to take long entry. Buying range between 278-283 SL to be place around 272 for the target price of 302-305. RSI above 60 forming +ve divergences. Good risk to reward trade. This is for your educational purpose only.
All important levels marked on the charts.
HINDUSTAN PETROLEUM making an Inverted head and shoulders pattern ON 1D chart. It has crossed the resistance of 280 which acted as barrier for it since last 3 months. Now it is looking for a bull run if sustain above 280. take entry above on successful retest of its breakout as drawn in the chart. stoploss will be below last swing ie 263-260 and target will be...