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 respectivelyJust 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
Related Readings and Observations
Nifty Hourly Charts for 31st Dec
Nifty at this point of time looks overbought. Though it is in a buy signal.So Book timely profits if you are in long. Correction could take placeSource:
www.marketcalls.in
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Is this an astrology chart?Where to get this chart. I wantto know more about it
@Meera Crab Pattern shown here is notrelated to kadaka rashi or something elseIts purely harmonic patternsCheck it out hereHarmonic Patterns and AFL code