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SBILIFE Double top Breakdown ??!!!

已更新

Chart pattern look interesting for a short trade

Reasons

1. SBILIFE travelling in a Descending channel pattern( hourly time frame)
2. Now, it has formed a DOUBLETOP pattern (with a perfect High & Lower High as the two tops)
3. Lower low too formed on Friday, increasing our probability and thus Breakdown!!!
4. SL & Target levels mentioned @ chart as horizontal dashed lines(red & green)
5. 2 hr candle escaping out of the channel(yellow) can be less risky SL.

6. On 15th Feb(wed), Sbilife formed a Superb Bullish Engulfing day candle, but couldnot sustain.... showing the BEARS STRENGTH!!!!
7. 1113(1st target) level small gap remains unfilled!!!

Let's wait and watch how it moves!!!!

NOTE- Just sharing my view......not a tip nor advice!!!!

交易進行

At the perfect resistance level!!!

評論

still the trade setup looks intact!!!!

評論

good going as per pattern!!!

交易進行

1st target done!!!

手動結束交易

2hr closing out of the trendline...better to exit and take entry afterwards

評論

looks like retracement to 1146 levels...