IDBI has been moving continuously in channel. Currently We have witnessed an impulse wave 3 which made high around 77. These are below few things to be noticed. 1. Impulse wave around 77. 2. Bearish Gartley with D leg almost expected around 77. 3. Previous structure resistance around 77. I am expecting one retracement to slightly below 75 on Monday. Those...
BEARISH GARTLEY HARMONIC PATTRN FORMED IN ULTRATECH WITH ENTRY POINT 4060 TO 4070 WITH POSSIBLE TARGET OF 3984 AND 3964
Learning gartley pattern 'B" is at least 61.8% retracement of XA should not touch or close above 78.6% "C" is at least 61.8% retracement of AB leg should not tuch or close above 78.6 "D" the entry point is at 127.2% extension of AB, which in this case comes out to be near 495. I doubt it will come there . Will monitor this as long as point C holds true
IDBI has been trading in a channel on a daily charts. Will it test the resistance trend line again. As of now one can buy it for first target of 81. But one has to be careful on the upside as well as there is a potential bearish Gartley devloling inside the channel.
Down move may be arrested ... Looking for Longs above 8645
After the below pattern is completed Hoping that BC leg required for Gartley will be formed . so can expect 19300 ?
In this Educational post, I will be sharing the most basic and simple harmonic pattern: AB=CD Pattern 1. Formation of the Pattern 2. What to look in the pattern 3. Targets 4. Stoploss 5. Risk This is a new series of Harmonic Patterns, where I shall be discussing about the below patterns: 1. AB=CD Pattern 2. Gartley Pattern 3. Cypher Pattern 4. Bat Pattern 5....
Harmonic Patterns when formed, have high success rates...
X-point High@159.40 is critical level -Any breach shall violate the pattern downside we could look at swing high-B@152 as first target - 150-2nd Target & 146 as 3rd Target
We are in the making of D leg of a harmonic pattern. 1st target can be at around 20380 where the hourly gap is there. Second target can be near 20500 or it can go till 20600. From there one can initiate short position only after confirming the harmonic pattern.
JUST FOR ONE DAY THEN BIG BULLS WILL COME
In Nifty we have two potential patterns, when there is potential patterns bcos of greed we tend to trade CD moves, its really bad habit. You should not trade CD move during your learning phase of patterns. The safest setup is to trade after pattern completion from D point. In Nifty, a week before we had more than 300 points in 10 days just by patterns but that...
Hi Friends, Let's Welcome September by counting hatched chickens of August ? (1) Bearish Cypher - 80 points ( trailed stops) (2) Bullish Cypher - Lost 15 points ( Broke the pattern straightaway) (3) Bullish Gartley - 240 points ( Trailed stops aggressively & We caught wave-3 perfectly ) So whooping 305 points in few days..Great for Nifty I believe. But before...