Price formation suggests a short as recommended by Victor Sperandeo in his 2B Pattern. Price closed above the previous high yesterday with good volume but got rejected immediately and closed below to low of yesterday. We can short the stock with reasonable stop loss. Risking the small amount gives an opportunity for a decent Risk to Reward ratio trade.
IDBI going to the new heights!
Go Long on IDBI Bank on monday.
Reasons for Long
1. Stocastic - Oversold
2. RSI - Oversold
3. Morning Star Formation ( Great success rate)
4. Bounced from the trend line
Any opening above
What a performance by "Retracement and Reversal"!!! Crystal Clear.
Buy on around 1:15 pm @ 26500 and Zoommmmmm
Here it is how it performed in 3 min Timeframe.
"Retracement and Reversal" Never Predicts.
Only known to future*, if this Retracement continues further its way down and gets converted to Reversal - Down Trend.
Ideally Retracements are "No New Trade Zone".
Traders who entered a LONG Position at 79 Levels would have exited at 89 Levels yesterday morning as suggested by 4th Grade Green.
*Retracement and Reversal never Predicts.
Only known to future*, if this Retracement continues further its way up and gets converted to Reversal - Up Trend.
Already showing Pink in "3. Multiple Level Retracement" from 7th June.
Ideally Retracements are "No Trade Zone".
High Risk Traders take at least some LONG positions on Pink to gain maximum from bottom. Already Green in 2H timeframe at 290...
1. No Retracement: Buy on Green. Sell on Red.
2. Single Level Retracement: Buy on Green. Sell on Red.
are Retracement of an UpTrend and are Retracement of a DownTrend.
is Reversal from DownTrend to UpTrend and is Reversal from UpTrend to DownTrend.
3. Multiple Level Retracement: Buy on Green. Sell on Red.
For High risk Traders:
In an UpTrend Light Green is...
Morning star candlestick reversal pattern at the lower line of Broadening wedge is giving earlier sign of reversal of this down trending stock. RSI also coming back from the extreme oversold zone telling the buy, moreover the trade is available at small risk of one bar stop loss so one try his luck as under
Chart can tell you secrets but only in its language. Its up to you to understand it.
Its simple and is one for long term investors.
Everything is on the chart!
Consult your advisor before making decisions.
Price has already made 3 down drives, now coming out of RSI oversold zone, Engulfing bar at double bottom zone today. It may not be a high probable trade but still worth risking small amount. One can expect at least thrice the reward of risk being taken. Stop Loss some ticks below the recent low on closing basis.
Disclaimer : All ideas and comments are my...
Bearish engulfing pattern has been spotted at the top of a rally in heromotoco. Also, there is an immediate resistance at the same level.Both RSI and stochastic have given bearish crossovers. Stochastic lies in the overbought zone.
It has been observed that the price action firstly breaking above the downward channel and now initiating to form a higher high and higher low sequence indicating a reversal in the price action.
As per my analysis, price action shall further move up to the below targets.
stock trading near weekly support and after a descent fall given some scope of rise in the last some hours of trading today !
with a stop loss @ 1090 095 range and keeping targets of 1147 , & 1170 , better stay long in the stock with a fair chance of