Mistakes:
1. I entered at the breakout candle of the green box.
Solution - should entered, after price crosses the high of breakout candle.(which never happened)
2. I should have exited the stock earlier.
Solution - I entered in a breakout candle but, as soon as the price goes below that candle, i am supposed to exit the trade.
3. Wrong timeframe.
Solution -...
Buy only above 3050 with sl of 2982 and target of 3100/3150/3200
sell only below 2950 with sl of 3000 and target of 2900/2850/2820
3050 will be the most imp level, bulls will be back if it sustain above 3050 for a day.
Asian Paints is making an inverse head and shoulder pattern. Once its crosses the neck, we can see the price movement to 3700-4000. Other factors:
1. Large Cap - we can see movement in large caps now
2. MACD positive
3. RSI above 60
4. Volumes increasing
"Clean Charts, Easy Charts"
Learning & Earning!!!
Cheers!!!
TWT_SUPER_POINT has captured the reversal point for Asianpaint
Go for Short opportunity
Use TWT_SUPER_POINT indicator for such fantastic turning point alerts.
The stock is likely to go up... the chart is looking good. and risk reward is self explanatory . one can go long based on this .. this is what i call a minimum projection of price might touch. targets SHOULD ALWAYS flexible but have a tight stop loss.
The stock is likely to go up... the chart is looking good. and risk reward is self explanatory . one can go long based on this .. this is what i call a minimum projection of price might touch. targets are flexible but have a tight stop loss.
The most common Triangle pattern, Asian paint will encounter when you're studying price charts on the higher time-frame for short selling is the contracting triangle, which is right in front of you. It's a 5 wave move, subdivided or identified as waves ((A))((B))((C))((D)) and ((E)). Any wave of the pattern is subdivided into 3 smaller waves, and also too many...
Asian paint is running inside my Quant Box for some time. Now is the time to break out and it may be either side.
The Box width is 64 points and the probability of a multiple times return of the number is high.
Stoploss will be on the other side of the box once BO is given.
The target has marked on the chart.
Disclaimer: This information is for educational purpose
Decent Breakout near 2474
Any dips to these levels can be bought
Next resistance around 2558-2565 zones
More bullish moves may come on breakout of these zones.
