APOLLOHOSP for 8100? Bearish Crab Pattern is visible
CMP: 7193
On hourly TF, Bearish Crab Harmonic pattern is activated by breaking the swing high at 7150 levels. If this pattern has to mature, then, it will have to make a run towards 8100 levels (1.618% of the XA leg)
As per this pattern, the ideal trade set up scenario is that, ONE SHOULD WAIT FOR THE PRZ (POTENTIAL REVERSAL ZONE) and initiate the trade in the opposite direction..
In this case, WE SHOULD WAIT FOR THE PATTERN TO MATURE AT 8100-200 LEVELS and take a SHORT trade with minimal Stoploss.
For COMPULSIVE TRADERS who would like to take advantage of this possible/potential 1000 points move on the upside, the BEST Risk Reward is at around 7000-7050 levels with 100 points SL
Although this up-move projection looks pre-emptive, it bodes well with my primary view of the 5th in play as explained in the post below and also the daily chart copied below with counts
I am not a SEBI registered Analyst. Views are personal and for educational purpose only. Please consult your Financial Advisor for any investment decisions.
On hourly TF, Bearish Crab Harmonic pattern is activated by breaking the swing high at 7150 levels. If this pattern has to mature, then, it will have to make a run towards 8100 levels (1.618% of the XA leg)
As per this pattern, the ideal trade set up scenario is that, ONE SHOULD WAIT FOR THE PRZ (POTENTIAL REVERSAL ZONE) and initiate the trade in the opposite direction..
In this case, WE SHOULD WAIT FOR THE PATTERN TO MATURE AT 8100-200 LEVELS and take a SHORT trade with minimal Stoploss.
For COMPULSIVE TRADERS who would like to take advantage of this possible/potential 1000 points move on the upside, the BEST Risk Reward is at around 7000-7050 levels with 100 points SL
Although this up-move projection looks pre-emptive, it bodes well with my primary view of the 5th in play as explained in the post below and also the daily chart copied below with counts
I am not a SEBI registered Analyst. Views are personal and for educational purpose only. Please consult your Financial Advisor for any investment decisions.
I am not a SEBI Registered Analyst. Views are personal and for Education purpose only. Please consult your Financial Analyst before making investment decision
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