INDRAPRASTHA GAS - Now Its Reverse Pall and Flag PatternINDRAPRASTHA GAS - Now Its Reverse Pall and Flag Pattern
AM SHARING MY VIEW ON IGL (INDRAPRASTHA GAS).
Its Consider After GOOD BREAKDOWN WITH VOLUME IN Reverse Pall and Flag Pattern ,
SELL :- Below 350-48
SL :- 380-85 for Short term AND Long Term
*** Target ***
1st :- 328-25,
2nd :- 305-300 (Stong Support) SO Trail Your SL after 300 (March 2022 Result Positive Compare to last year)
3rd :- 285-80
Very less Chance But
IF All 3 target done and than after any Negative Chart Pattern here than after,
LONG Term SHORT LAST TARGET :- 245-50
Just sharing my view on INDRAPRASTHA GAS . Its for Learning Purpose .
"Passion with Chart, Know with Heartbin"
IGL trade ideas
make ascending tringle patternHere in the chart we can see that it is working in a chanel which is in Downtrend.
bt last few days chart making Ascending tringle pattern its a sign of uptrend .
Chart is looking gud for upside move
Target is 10-15% for upside
SL- 370
This is only for educational purpose not a buying or selling advice.
IGL - Sharp Corrective wave = wave - Long side Setup.As many of you know, I spend much of my spare time analyzing markets. Yes, analysis is my day job, but it is also my passion. So, whenever the weekend comes around, I spend most of my time in front of the computer to study price charts.
Month Line-Chart
Using Line-Chart for identifying long-term trends. The primary trend is up.
A price middle of the parallel channel and is falling downside.
Your long side trade will be referred to as the main or primary trade setup.
Month Bar-Chart
The support at or near the lower boundary line at the parallel price channel. Sometimes, the middle line would work as support also. This is essentially what I work with support at the bottom line or middle line. A price is near the middle line or a little below it.
A trend is a downside in the range of parallel channels.
Important Numbers - Month Chart
A Significant Flip range - 345 to 364 for counter-trade.
Month price chart - Elliott Wave Analysis .
As you can see in the price chart, I labeled using Elliott wave principles and recognized that a price is trading in the corrective mode. More importantly, the wave ((ii)) is exactly 61.8% multiple & wave ((iii)) is just beyond the 3.618 extended ratio but wave ((iv)) is deeper at 78.6% which is not a common or expected ratio on log scale. A wave ((v)) is extended wave.
2 Days price chart - Ending Diagonal:
Therese important support for pull-back - 366-64/351 & 284.
A sharp correction has been occur after Ending Diagonal is terminated.
The Ending Diagonal is terminating wave pattern.
In real-time trading, I'll create trade-setups utilizing above supports. For instance, I ll look for pullback entry in price range from 351 to 364 long side but during the trading hours i always focus on price action to take action.
Let's check whole Ending Diagonal and its characteristic before moving forward.
The aspect of the Ending diagonal is not many people familiar with Is it a timing component. Ending diagonal terminates the resolution of the pattern is occurs within 1/3 to 1/2 the time it takes the pattern to form. What does that really mean? In this price, you can see ending Diagonal begin to end time was 365 bar and I expected whole move complete in time 1/3 (at 121 bars) OR 1/5 (at 272 bars) period of time. This is very informative and time sensitive method you look up on ending diagonal.
I am also trading and looking 15min time-frame when i take entry.