3 Highs setup in USDCHF.Hello Traders!
1. We see 3 consecutive highs after proper consolidations . I have some self-made rules for this setup which have worked with almost 90 percent accuracy.
2. We also have a 2-bar reversal pattern in 1 hour tf.
3. Sell below the red line . The stop may be updated if the market makes a new high before our entry.
4. We also have 2 potential targets marked by the green lines.
Do use proper risk management.
Happy Trading!
Profits,
Market's Mechanic.
Shortsetup
INVERTED TRIANGLE in BNF #bnfNSE:BANKNIFTY has formed inverted triangle pattern below previous major support which is now acting as a strong resistance and stopping bnf from moving upside ,bnf should be ready for a major correction as it has created the pattern while testing all the fresh support and now there is nothing to stop the fall, but in case if bnf manages to break the pattern upside it will be breaking the resistance and big upside move will be seen.
Going Short on Banking Stocks? Elliotical Approach to BankNifty.Hello Traders!
1. We see a completed 3rd wave of impulse that started after Lockdown - March 2020.
2. We see a clear zigzag correction for Wave a, marked with red ABC.
3. We see a 3-wave Wave b . The count of wave C of this wave is being shared here for clarity.
4.The most expected target for BankNifty should be around 30500 . This is because we see the possibility of an expanded flat (3-3-5). There is also an important guideline of Elliot wave theory that Wave 4 of a cycle falls very close to the Wave 4 of Wave 3 of the same cycle . A figure is attached for more clarification.
5. The final 5th Wave of the impulse is expected once the C wave of this 4th wave is complete as shown on the chart.
Do use proper risk management.
Happy Trading!
Profits,
Market's Mechanic.
#TATA MOTORS #Tata motors (CMP-403)
SETUP:-
1 . Tata motor forming a descending triangle pattern
2 . There are multiple trendline resistance from upside
3 . In weekly TF crossover between 20 EMA and 50 EMA
4 . If it break 370 level then it may fall📉
5 . If stock possible to sustain above 445 level then it may go upside 📈
SRF shortPosition ally Short SRF between 2670-2690 with SL above 2740
Target 1= 2220
Target 2 = 2100
Note : Trading in any financial market is very risky. I post ideas for educational purpose only. It is not financial advice. Do not hold us responsible for any potential loss you may incur. Please consult your financial adviser before trading.
Short Zomato to get short term Target of 61.45, 2nd T - 51.55According to the Chart pattern it seems to breakout from the channel and therefore it can possible goes down to either Rs 61.5, within 1 week or soo on and if goes down than the nearest downfall seems to be 51.55 to 52, currently today it trading between Rs 63.30-63.5pa current day high Rs 64. invest or Trade by your own research or analyze I am just educating the chart pattern that I observed.
FSL... MORE DOWNSIDE RUN COMING... In the chart, one can appreciate the downside of Elliot's correction.
Wave 4 of the Elliot has taken the form of a triangle.
As I mentioned in my previous post about the correction in IT, one can also expect a bearish run in FSL.
Expecting a target of 96 to be reached within this month.