Hero Motors - ABCD Bullish Pattern

٢٦ أكتوبر ٢٠١٦

It is been observed that the price action forming a bullish ABCD pattern, indicating further move up. It has retraced to 23.6% levels and now it shall further move up to 38.2% levels.

Target: 3482
Stoploss: 3375

٢٧ أكتوبر ٢٠١٦

تم فتح الصفقة

Opened up at 3470 close to target but drops immediately after that, signaling selling pressure. Now, if it breaks and closes below 3322 levels, then it shall further move down.

٢٧ أكتوبر ٢٠١٦

أغلقت الصفقة: تم الوصول لوقف الخسارة

The pattern did work out well due to this reason:

Lesson: "If C retraces ~61.80% of AB, D should be 161.80% of BC" suggested by bbrijesh