SHORT TRADE IN ARVIND
SEPTEMBER FUTURES
TRIPLE TOP FORMATION AND
A DOUBLE TOP ON HOURLY CHART
SHORT@401
STOP@405
TARGET 1@395
TARGET 2@ 390
LOT:2000
QTY:2
Hi guys, what a day. I had to wait till afternoon for the short opprtunities. The patience really paid. I had three nice trades and I would like to share one special trade in UPL.
Price Volume Analysis
It opened with a gap down and made a spike low (see A). Later it broke that low and formed two more spikes with larger volumes, clear indication of some buying ...
I always love to trade such a chart but on 5 min. time frame :) Not possible ?? Yes, its possible.. but we will discuss on this topic later in some other post.
CORRECTIONS and the ELLIOT COUNT:
In this chart I can see three major correction. Each one having a different topping pattern. The first correction has a Rising Wedge; the second has Triple Top and the ...
Short here for a target a sub 720 levels. Triple top along with Bad results as compared with the expected results.
Stop loss is a breakout above the triple top.
Trail Stoploss for safety.
Triple Top pattern on #CapitalFirst stock being experienced at the moment as it has been unable to breach the 800 mark.
Good opportunity to short at this level.
