Chart patterns look good for a short trade in Reliance industries
REASONS
1. RELIANCE has been trading inside an Ascending Channel and currently it is down under its Downswing move inside the channel
2. There is a Monthly breakdown (shown in chart) out of a 5 year old trendline support
Monthly timeframe chart below-
3. In weekly chart shown below, we can clearly witness lower high and lower low formed recently confirming Bearishness!!
4. In daily timeframe, it is trading in the form of an Inverted Cup & Handle and its due for Breakdown!!
5. Target levels mentioned as Horizontal dashed green lines
6. SL can be day candle closing out of the purple slanting trendline
7. Safe Entry can be after 2hr Breakdown out of the Inverted cup & handle pattern.
Let's wait & watch, how it moves!!!
NOTE- Just Sharing my View....not a tip nor advice!!!!
REASONS
1. RELIANCE has been trading inside an Ascending Channel and currently it is down under its Downswing move inside the channel
2. There is a Monthly breakdown (shown in chart) out of a 5 year old trendline support
Monthly timeframe chart below-
3. In weekly chart shown below, we can clearly witness lower high and lower low formed recently confirming Bearishness!!
4. In daily timeframe, it is trading in the form of an Inverted Cup & Handle and its due for Breakdown!!
5. Target levels mentioned as Horizontal dashed green lines
6. SL can be day candle closing out of the purple slanting trendline
7. Safe Entry can be after 2hr Breakdown out of the Inverted cup & handle pattern.
Let's wait & watch, how it moves!!!
NOTE- Just Sharing my View....not a tip nor advice!!!!
تعليق:
will update once breakdown for our entry occurs!!
تعليق:
Strong close above 2475 needed to wane off bears!!!
تعليق:
setup intact!!!
تعليق:
Probability % increasing for short trade!!!
Entry after Solid breakdown!!!
Entry after Solid breakdown!!!
تم فتح الصفقة:
تعليق:
تم فتح الصفقة
تعليق:
1st Target Done!!!!
تم فتح الصفقة
تعليق:
تعليق:
good going till now!!!
تعليق:
1HR timeframe Inverted Cup & Handle ??!!
تعليق:
تعليق:
breakout on upside!!!
still the trend is bearish!!!
still the trend is bearish!!!
تعليق:
Maintain the Strict SL of 2470 level
تعليق:
Maintaining the same stop loss 2470 (on day close basis)
Nifty at a juncture and reliance at its juncture(forming a weekly doji)
let's wait & watch!!!
Maintaining the same stop loss 2470 (on day close basis)
Nifty at a juncture and reliance at its juncture(forming a weekly doji)
let's wait & watch!!!
تم حذف الأمر
تعليق:
Next week move may be the direction decider!!!!
We can expect a Breakout/Breakdown in the next 2- 3 days
I am not yet Bullish on RELIANCE!!!
Next week move may be the direction decider!!!!
We can expect a Breakout/Breakdown in the next 2- 3 days
I am not yet Bullish on RELIANCE!!!
تعليق:
Is this the Breakdown we expected ??!!!
Is this the Breakdown we expected ??!!!
تعليق:
BREAKDOWN DAY CANDLE LOW TOO TESTED!!!
2390 - SUPPORT
2390 - SUPPORT
تعليق:
