strength seen on weekly time frame with good momentum
this bar also happens to be
1)200MA
2) trendline support
3) spring near local support
4)break of downtrend trendline on daily time frame
5) if you believe crude prices will shoot up,this should be a good entry
As we see BEAR TRAP formation in HINDPETRO +200ema support. we can go long by keeping our stoploss below 200ema. Targets are mentioned in the chart itself.
NSE:HINDPETRO
📌 To Trade on This Chart, You Should Have Reversal Trading Knowledge. As Harmonic is One Of The Best Reversal Trading Strategy, But Always Remember That Harmonic Patterns Also Can Fail (there is no holly grail In Stock Market). That's Why One Should Must Have Knowledge Of Reversal Trading To Trade On Harmonic Patterns.
📌 That Dash Line Is Called...
Good short swing trade possibility, there might be a small pullback for a retest. Play on levels. Always keep a stop-loss and trail your profits.
Entry: CMP
t1: 325
t2: 339.5
t3: 354.35
SL: 297.55
NSE:HINDPETRO Looking bearish below 300 now. It has given a breakdown from upward channel pattern and continuing downward trend by giving a breakdown from this channel pattern. Short below 300 after passing a retest from channel's trendline resistance. Hind Petro has a strong support zone near 375 following a long term trendline. it may reverse from it and can...
NSE:HINDPETRO
All About 200 DMA. How to use it to take Mid/Long term trade.
1) What is 200DMA?
It is simple technical analysis tool that is and average of daily close price of last 200days/candles. It is used to smooth out the price and it will remove the intraday fluctuation noise.
200DMA --> 200 Daily Moving Average
2) 200DMA is the one of the main...
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 .
...
Stock has been in a down trend since june and was not able to give a break out. Price has tested the resistance zone 3 times and now is the fourth time it is trying to break. And during this process an inverted head and shoulder pattern is formed on the price chart. As we know that it is a reversal chart pattern, and we can see an upmove from here if price...
