PEL trade ideas
PEL POSITIONAL - LONG NSE:PEL
(FOR LEARNING PURPOSE ONLY)
1) Phase 1 (Accumulation) Completed
2) In the midst of Phase 2 (Mark up)
>> We can see expanding volume when price moves up and contracting volume when price retraces
ENTRY
BUY WHEN PRICE RETRACES BACK TO HL
TARGETS
TG1 - 1600
TG2 - 1900
PEL SHORT (RETRACEMENT)NSE:PEL
(FOR LEARNING PURPOSE)
Price Increasing on contracting volume
Possible Retrace down could happen before rallying up
Entry for Short - MARKET
Target - 1300
Entry for Long - BUY WHEN PRICE RETRACES TO 1300 ( ON VOLUME CONFIRMATION)
Target - 1630
PEL might give a short trade opportunity If it breaks below the rising wedge / channel, it might show up a down move
PEL is Making Rectangle Channel Pattern (Breakout Trade)Piramal Enterprises Limited : Pharmaceutical Company ( NSE:PEL ) is Making Rectangle Channel 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
PEL, SIMPLE FIBO RETRACEMENT TRADE (CHART# 315)PEL is looking based on 2 factors.
1. Fibo 50% retracement and continuation
2. Taking reistance from long term support.
It will be weak below 1252 (1246 for safe traders).
Many more trades shared in our group. Focus on simple price action to get best results.
Thanks
Piyush Gupta
PEL Intraday ViewPEL:
Intraday view
Rising Channel Breakdown
Can break immediate support
Short below 1333 with a SL 1340
SHORT - Bearish Flag at Trendline Resistance - Risk/Reward 1:5Short < 1338
Stop-loss > 1403
Target 1000
Risk/Reward 1:5
Piramal Enterprise - Price broke the upward trendline on 4th September and pullback but faced trendline resistance at 1403 and fall back. Price made a bearish flag and breakout of the same is a shorting opportunity.
On a daily chart, the price made a lower high followed by a recent lower low and that confirmed the daily time frame trend as down.
Looking at the Weekly time frame price is already in a downward trending channel. It took resistance at the upper channel line of the channel and fall back. Also, the 0.382 Fibbo retracement level of the ongoing downtrend on weekly acted as a resistance.
PEL - SHORT SETUPPel broke down its support and has formed bullish engulfing while retesting. This can be a good shorting opportunity for pullback traders
