PATTERNS & CHANNELS IN NIFTY

28. Sept. 2016

PATTERNS & CHANNELS IN NIFTY

28. Sept. 2016

Anmerkung

ONLY FOR ME NOT FOR NEW TRADE (ALREADY ACTIVE )LONG WITH STRICT TSL10 PTS

22. Okt. 2016

Anmerkung

When trading the bullish Gartley pattern , the pattern is meant to be traded at 1.272% D leg completion only. If you believe the pattern is unfolding but price is only at point B, be patient and wait until price reaches the D leg completion.
The power of the pattern comes from converging Fibonacci levels of all points from X to D.

Point B must at least touch the 61.80% retracement but cannot touch the 78.60% from the X to A move.
Point C must touch the 61.80% but cannot spike above the A leg resistance.
Point D is complete when price action touches the 1.272% retracement of the B to A move.
Stop loss must be placed below the X leg structure support.
Stop loss must also be a minimum of a 1:1 risk reward to the 38.20% target 1.
Target 1 at the 38.20% retracement of the A to D move.
Target 2 at the 61.80% retracement of the A to D move

22. Okt. 2016

Anmerkung

The butterfly pattern is different than the Gartley in that it focuses on finding reversals at new lows (bullish) or new highs (bearish). D is a new low and a potential reversal point if the Fibonacci figures align with the structure. D would need to be an extension of BC in the magnitude of 1.618 or 2.618. This should align with an extension of XA in the magnitude of a 1.27 or 1.618. Entry is taken near D with price confirmation of the reversal encouraged. Stops are placed slightly below the potential reversal area (bullish).

Read more: Harmonic Patterns In The Currency Markets | Investopedia investopedia.com/articles/forex/11/harmonic-patterns-in-the-currency-markets.asp
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22. Okt. 2016

Anmerkung

The bat pattern is similar to Gartley in appearance, but not in measurement. Point B has a smaller retracement of XA of 0.382 or 0.50 (less than 0.618), but the extension of the BC wave into D is at minimum 1.618 and potentially 2.618. Therefore, D will be a 0.886 retracement of the original XA wave. This is the PRZ: when selling has stopped and buying enters the market, enter a long position and take advantage of the bullish pattern. Place a stop just below the PRZ.

9. Nov. 2016

Anmerkung

Oops buy:

1. A SUSTAINED downtrend
2. Gap down open
3. Rally above ydays low