UPL - Breakout or Fakeout?

21 oct. 2016

UPL price action is now at a unique position. On one hand it is at all time highs trying to breakout above 720 but also formed a bearish AB=CD harmonic pattern.

Which one will prevail?

Breakout - if price closes above 720 & sustain further

Fakeout - If price closes below 720

Let's wait and see price action & see if we can enter Long or Short.

26 oct. 2016

Note

Still lingering around 720 - neither breaking out nor faking out. Wait for the price action to take action either way.

28 oct. 2016

Transaction en cours

UPL has faked out unable to break the 720 barrier.

Enter short at 680 with a SL of 710. TP of 490

3 nov. 2016

Note

Moving SL to 700

11 nov. 2016

Trade fermée manuellement

Stock has been Resilient. Booking profit @665