Chart pattern look interesting for a short trade
Reasons
1. SBILIFE travelling in a Descending channel pattern( hourly time frame)
2. Now, it has formed a DOUBLETOP pattern (with a perfect High & Lower High as the two tops)
3. Lower low too formed on Friday, increasing our probability and thus Breakdown!!!
4. SL & Target levels mentioned @ chart as horizontal dashed lines(red & green)
5. 2 hr candle escaping out of the channel(yellow) can be less risky SL.
6. On 15th Feb(wed), Sbilife formed a Superb Bullish Engulfing day candle, but couldnot sustain.... showing the BEARS STRENGTH!!!!
7. 1113(1st target) level small gap remains unfilled!!!
Let's wait and watch how it moves!!!!
NOTE- Just sharing my view......not a tip nor advice!!!!
Reasons
1. SBILIFE travelling in a Descending channel pattern( hourly time frame)
2. Now, it has formed a DOUBLETOP pattern (with a perfect High & Lower High as the two tops)
3. Lower low too formed on Friday, increasing our probability and thus Breakdown!!!
4. SL & Target levels mentioned @ chart as horizontal dashed lines(red & green)
5. 2 hr candle escaping out of the channel(yellow) can be less risky SL.
6. On 15th Feb(wed), Sbilife formed a Superb Bullish Engulfing day candle, but couldnot sustain.... showing the BEARS STRENGTH!!!!
7. 1113(1st target) level small gap remains unfilled!!!
Let's wait and watch how it moves!!!!
NOTE- Just sharing my view......not a tip nor advice!!!!
Trade ist aktiv:
At the perfect resistance level!!!
Kommentar:
still the trade setup looks intact!!!!
Kommentar:
good going as per pattern!!!
Trade ist aktiv
Trade ist aktiv:
1st target done!!!
Trade wurde manuell geschlossen:
2hr closing out of the trendline...better to exit and take entry afterwards
Kommentar:
looks like retracement to 1146 levels...
Trade ist aktiv
Kommentar:
2hr breakdown again!!!
target 2 onn!!!
2hr breakdown again!!!
target 2 onn!!!
Trade ist aktiv
Kommentar:
2nd target done!!!
Kommentar:
lower low formed....tested the low of 1st feb long bearish candle....
Trade geschlossen: Ziel wurde erreicht:
3rd target too done & dusted!!!
1045 support level
let's see if it break it or not!!!
1045 support level
let's see if it break it or not!!!
