TCS The Perfect Time to Book your Profits!!!
Upward Impulse complete and the correction forming is a Fat Correction where Wave A is complete B is almost complete;
Hence Wave C is yet to start and this is going to be a downward Impulse with 5 Waves and this correction ca retrace the Previous Impulse as much as 100% as per the rule of the Elliott Wave Theory;
So this is the time to book your profits;
TCS
TCS is Making Descending Triangle Pattern (Breakout Trade)Tata Consultancy Services Limited : Information Technology Consulting Company ( NSE:TCS ) is Making Descending Triangle Pattern (PATTERN BREAKOUT TRADE).
This can become a very good trade for INTRADAY traders.
Target + StopLoss: There is no target here. You keep the first target as much as the StopLoss you put. And the StopLoss will be the Low/High of the candle that broke this pattern. Or Low/High swing backward inside the pattern.
And as soon as you get a profit of 0.50% of your target, you will trail your StopLoss and bring it to the entry point. And as soon as your first target is hit, you will release half of your total quantity and continue to trail your StopLoss above the last swing Low/High.
Target and StopLoss are never already fixed in the chart pattern.
Thank you.
You always have to trade only by money management, position sizing, StopLoss trailing. This is the way to stay in profit.
Chart Published By Ravinder Sharma
TCS : Long SetupNSE:TCS
Hi Traders,
TCS remained range-bound throughout month and it has started moving in upward direction with upward price channel.
Entry and target level on chart.
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###Learn To Earn###
* This analysis is educational/learning purpose only.
* Trade at your own risk.
Trade well,
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