SBILIFE Double top Breakdown ??!!!
Zaktualizowano
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!!!!
Zlecenie aktywne
At the perfect resistance level!!!Uwaga
still the trade setup looks intact!!!!Uwaga
good going as per pattern!!!Zlecenie aktywne
Zlecenie aktywne
1st target done!!!Zlecenie zamknięto ręcznie
2hr closing out of the trendline...better to exit and take entry afterwardsUwaga
looks like retracement to 1146 levels...Zlecenie aktywne
Uwaga
2hr breakdown again!!!
target 2 onn!!!
Zlecenie aktywne
Uwaga
2nd target done!!!Uwaga
lower low formed....tested the low of 1st feb long bearish candle....Transakcja zamknięta: osiągnięto wyznaczony cel
3rd target too done & dusted!!!1045 support level
let's see if it break it or not!!!
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