Hero MotoCorp is making bullish diversion over smaller timeframe for now.
Taking a chance by risking 1% capital over the account because if the diversion plays out it will make 6-8% profits with 1% risk.
- HEROMOTOCORP is facing hard rejection from the upper trendline.
- Waiting for this to get breakout for a long buy trade.
- Always identify the fakeout and real breakout before taking the trade.
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Major Trendline over smaller timeframe is breaking down.
Taking a short trade here gives good R:R. (After 15 min candle close below 1557)
Price action looks like temp top established.
Targets are based on FIBS retracement.
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1. Looking over Line Chart to find out the patterns.
2. Inverse H&S Pattern Spotted.
3. Break of neckline and it will go 20-30%.
4. Trade the plan long on breakout... Stop Loss Below the Neck Line.
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1. Major support broken down on daily chart which was 1720-1715 levels.
2. Next support as per TA is 1630 which is 0.618 FIB retracement of last parabolic move up.
3. If 1630 breaks that possibility of down towards 1500 seems look good.
- Personally i am going to build up a short position from 1690-1710.
- With stop loss above 1730
- Target 1 : 1630...
1. ICICI Pruli is still looking strong in uptrend.
2. Over this chart i'm looking for retracement of this uptrend.
3. Will take only short trade when the price will break trendline support & red horizontal line.
4. Looking for 0.618 - 0.5 FIB retracement.
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1. HDFC is forming an triangle on the top.
2. Triangles are 50-50 they can breakout and breakdown and keep the direction continue.
3. Taking a short trade on the edge of triangle provides you better Risk:Reward Ratio.
4. Mentioned target is small because of a support trendline is coming up there, if it breaks down that trendline in upcoming week than it can go...
1. IBULL broke down the lower timeframe resistance and now moving towards higher time frame resistance (Red Horizontal Line)
2. 3 HR Bullish Diversion playing out.
3. Strictly follow the Stop Loss.
Diversions provides you best possible scenario with worth R:R.
Playing out them either makes small loss or bigger reward.
1. Tata Steel broke down the major trendline support & retested it.
2. Breaking horizontal support of 390 will push down the price to key levels which are marked over the chart.
3. Keep your stop loss for short above the blue trend line and enjoy the ride.