SBILIFE Double top Breakdown ??!!!
تم تحديثه
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!!!!
تم فتح الصفقة
At the perfect resistance level!!!ملاحظة
still the trade setup looks intact!!!!ملاحظة
good going as per pattern!!!تم فتح الصفقة
تم فتح الصفقة
1st target done!!!تم إغلاق الصفقة يدويًا
2hr closing out of the trendline...better to exit and take entry afterwardsملاحظة
looks like retracement to 1146 levels...تم فتح الصفقة
ملاحظة
2hr breakdown again!!!
target 2 onn!!!
تم فتح الصفقة
ملاحظة
2nd target done!!!ملاحظة
lower low formed....tested the low of 1st feb long bearish candle....أغلقت الصفقة: تم الوصول للهدف
3rd target too done & dusted!!!1045 support level
let's see if it break it or not!!!
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