UBL - NSE Strong SELL if H&S neckline is breached

2019年3月23日

UBL has had a very good daily move up for the last several weeks. It has come to a zone where the Bull strength is starting to fade. SELL UBL based on the following.

• Head and Shoulder pattern on 4hr with neckline at 1350-1364. If a 4hr candle closes below this level, SELL without any hesitation as price will test 23.6 - 50% retracement to its low of the climb up.
  
  
• Ichimoku Conversion line crossing under the base line inside the cloud - Neutral signal, but lagging line showing signs of struggle and once it goes below its corresponding candlesticks and starts to race towards the cloud lower boundary, that's the definite SELL confirmation.
  
  
• TP1 - 1275-1300
  
• TP2 - 1150-1175
  
• TP3 - 1025-1075
  
  

If you like this idea, give me a thumbs up. Also have a look at my AI Lite indicator which populates BUY/SELL signals on chart based on a high probability system that I have developed. If you would like to try it, PM me.

Happy trading.

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2019年3月25日

交易進行

Update - 4hr candle opened below the neckline confirming the short trade

tradingview.com/chart/FacOjIvl/

2019年3月25日

註釋

2019年3月27日

註釋

Bounced strongly as NIFTY rallied yesterday, but price facing resistance again at neckline. Idea still valid.

2019年4月1日

交易結束：達到停損點

Trade closed as price closed above neckline