NIFTY BANK INDEX Banknifty will try to go near 56000 buy on dip near support
How to take trades using Harmonic pattern projection Trade setup is explained below:-
Entry: 1st SL point: 0% is recent top or bottom.
Trailing D: 15.1% is work as trailing SL of buy or sell trade if hit then we have to book profit
.If price goes below 2nd D 22.5% to 24.5% range then early traders can make fresh reversals trade after breaking 1st D 15.1% safe traders can reversal trade after breaking Point D 22.5.4% to 24.5% range
Targets:
Target T1: 36.1% to 38.3%
Target T3: 49.1% to 52.5%
T3: 60.9% to 64.8% is our 3rd Target since this is reversal zone so must book profit if break then take fresh trade again
Target T4: 76.4% to 79.7%
Next Targets are 100%, 127.2%,141.4% and final Target 161.8%.
How to take reversal trade:
If price going upside/ downside then then buy or sell levels appear on Chart ( Automatically show when price reach any reversal zone of harmonic projection). Trailing SL:
After reach 1st Target trail SL to just above or below cost (for example we are holding sell trade from 100 1st Target 110 hit then move trailing sl to 104-105 and move SL as price move upside or Downside)
Re-Entry:
For Re-entry in any pull back Point D (15.1%) is used for re-entry then SL recent high or low Point SL (0%).
