Bearish Wyckoff Distribution Schematic #2 (unorthodox)
I would be happy to go wrong however I do see this to test 260 in 2 yrs
it has to cross 590 to nullify this setup
though it took complete 25 year but parallel channel completion truly gives satisfaction.
This journey has been really great when I added at 1200 in 2019.
Though I don't have any tgt left but money has given 350% absolute return
though it took complete 25 year but parallel channel completion truly gives satisfaction.
This journey has been really great when I added at 1200 in 2019.
Though I don't have any tgt left but money has given 350% absolute return
past 2 year during the interesting bull run, price has formed a parallel channel. recent up move was the breakout from the channel and retest of the breakout is also done.
In weeks to come we may expect 25622 to be tested.
What has started in Oct 2023 has formed a parallel channel. It has completed one of the target given in Aug 2023 for 40904.
from 35210 on 8th Aug 2023 to high of 41096 and highest closing of 40842
cmp 39737
Now going forward we may expect selling continue until 37100
35500 is good support for pull back, at the same time it is the lower edge of the channel....
This has been a tough IPO stock but we are able to hold it because it was offline account.
It has formed parallel channel since listing. hopefully it may test upper edge of the channel
Copper has given good run up in past 10 months. now is the time for take a breadth and do some sideways movement for few months then take up the next up move.
790 - 760 may not break during this retracment
It was a great bull run in Indhotel since low of 2020
in past 4 years it has never broken the trendline.
going forward if trenddline is broken on weekly chart and if we see hns pattern then it may confirm the trend reversal. else use the oppurtunity wisely.
Is it the first sign of top formation in HAL.
parallel channel upper edge is touched from the bottom. Monthly candle is also doji, follow through will be interesting to watch
GODREJIND has been into parallel channel past 15 yrs.
sideways movement in past 7 years was helpful to cool down the stock as disparity was high
with 2 yr horizon this may be good
Distribution Schematic( 1 or 2): Wyckoff bearish
This is just phase 2 right now. It will take still few weeks and yet to confirm whether stage 3 will be Schematic 1 or 2.
I am trying new approach to highlight wyckoff, hope this works well.
