SBILIFE Double top Breakdown ??!!!
Mis à jour
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!!!!
Transaction en cours
At the perfect resistance level!!!Note
still the trade setup looks intact!!!!Note
good going as per pattern!!!Transaction en cours
Transaction en cours
1st target done!!!Trade fermée manuellement
2hr closing out of the trendline...better to exit and take entry afterwardsNote
looks like retracement to 1146 levels...Transaction en cours
Note
2hr breakdown again!!!
target 2 onn!!!
Transaction en cours
Note
2nd target done!!!Note
lower low formed....tested the low of 1st feb long bearish candle....Trade fermée: cible de profit atteinte
3rd target too done & dusted!!!1045 support level
let's see if it break it or not!!!
Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.