Nifty : Counting August Chickens after Hatching !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 going into calc's of for 305pts/10 days , then how much for month with patterns n all... Please realize the fact Nifty was kind enough to patterns this time thats why we grabbed as much as we can. This is Best scenario which happened thats all.
What if worst case happened ? Well, we might have lost around 80 - 100points, thats what makes difference between successful professional trader and who tries to be winner. When you lose, you should lose less, when you win, Win Big !
Alas ! As I was counting chickens, Nifty opened...
Today, We have rising flag in bullish trend, so this breakout will signal end of wave-3 or Wave-3 gonna continue little more ? I have no positions in Nifty now, waiting for breakout to initiate new trades, expecting wave-4 or extension of wave 3 but planning for lesser points only, not bigger moves :)
Feel free to leave your comments, take a moment to hit Like...Happy TradinG !
