Observation – Bullish Crab Pattern in Petronet

 

Iam very new to the concept called harmonic trading. Last night i
was just scrolling my Ami IEOD Charts using harmonic AFL and
found lots of interesting patterns. Out of those i like to keep an
observation on Petronet as it is showing Bullish Crab Pattern in
15min charts Still now my knowledge about crab pattern is a potential
reversal pattern which can be played with tighter stop loss. Though
Iam not sure about the targets ,I had taken fibonacci as a tool to
project my target. 38.2% of & 50% retracement which comes near
Rs72.48 and and Rs73.08 respectively

Just formulated my ideal trade here before getting into observation

1)Wait for the supports 70-70.6 zone to hold on opening
2)Enter the trade near support zone with 2%Rs68.5-Rs69 Approx)
3)Close the trade if the Stop Loss/Target Hits