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
Recorded Webinar : Learn the Basics of Tradingview – Pinescript Language Tradingview is one of the top 500 websites in the world powered with Interactive charts for various financial markets(stocks, futures, indices, cryptos, commodities). Undoubtedly, it is a […]
Indicator Piling Explained in Simple Terms If you are a new analyst in Technical Analysis. If you are using too many indicators to increase your winning ratio or to decrease noise in your trading system . Then this video is a must […]
Continuous Future Contracts Vs Non Continuous Future Contracts Which type of future contracts one has to use for Analysis/Trading. Should one have to use continuous contracts or non-continuous contracts? One of the most repeated questions faced […]
Indian Hotels Possibly a Value Buy Now
Cmp : 37 EOD Stop loss : 36Target : 45 and 53 Duration : 3 monthsWeekly Chart shows bullish MACD Diverences with RSI-2 and CCI-4 Also the Weekly trend turns up after […]
Bank Nifty Futures – Short Term Overview December Expiry – Part 2 Last week trading session ,Bank Nifty futures attracted lot many short term sellers came to compete in the market. Trading behavior was in such a way that most of the traders we dealt with […]
Nifty Smallcap – Bullish Island Reversal Pattern to be Revisited? Nifty Smallcap index formed a classical bullish island reversal pattern during last week of March 2018 since then price mean reverted back to 200 Moving Average on the daily charts. Last […]
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