Hero Motors - ABCD Bullish Pattern

2016年10月26日

It is been observed that the price action forming a bullish ABCD pattern, indicating further move up. It has retraced to 23.6% levels and now it shall further move up to 38.2% levels.

Target: 3482
Stoploss: 3375

2016年10月27日

交易進行

Opened up at 3470 close to target but drops immediately after that, signaling selling pressure. Now, if it breaks and closes below 3322 levels, then it shall further move down.

2016年10月27日

交易結束：達到停損點

The pattern did work out well due to this reason:

Lesson: "If C retraces ~61.80% of AB, D should be 161.80% of BC" suggested by bbrijesh