Rajandran R Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, USDINR and High Liquid Stock Derivatives. Trading the Markets Since 2006 onwards. Using Market Profile and Orderflow for more than a decade. Designed and published 100+ open source trading systems on various trading tools. Strongly believe that market understanding and robust trading frameworks are the key to the trading success. Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in)

Observation – Bullish Crab Pattern in Petronet

29 sec read


[wp_ad_camp_5]

 

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

Rajandran R Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, USDINR and High Liquid Stock Derivatives. Trading the Markets Since 2006 onwards. Using Market Profile and Orderflow for more than a decade. Designed and published 100+ open source trading systems on various trading tools. Strongly believe that market understanding and robust trading frameworks are the key to the trading success. Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in)

Bullish BAT Pattern in Hourly Cairn Charts

Hourly Carin Charts shows a potential short term trade setup with a bullish BAT Pattern. Bullish BAT pattern requires a smaller stop loss than...
Rajandran R
19 sec read

HUL Bullish butterfly gartley

Hindustan unilever likely to reverse after good amount of correction. Bullish butterfly  gartley pattern found on HUL daily charts . 225 as stop loss on...
Jay Chandran
10 sec read

Nifty Bank Futures Harmonic Pattern

  As mentioned by MGV in the comment coloumn, the harmonic patterns are changing continiously. And today it changes from Bearish Bat Pattern...
Rajandran R
14 sec read

2 Replies to “Observation – Bullish Crab Pattern in Petronet”

Leave a Reply

Get Notifications, Alerts on Market Updates, Trading Tools, Automation & More