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CENTURY TEXTILE : Risk/Reward 1:6
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2020(6)
Long Centurytex
Entry 490
Stop-loss 473
Target 590
Risk/Reward 1:6
I explain more about my analysis later in updates.
Long Centurytex
Entry 490
Stop-loss 473
Target 590
Risk/Reward 1:6
I explain more about my analysis later in updates.
Nota
Bullish Flag Breakout. One thing i hate about all the chart patterns is placing a stop-loss at the pattern lows. That spoils a RR Ratio.
Bullish Flags are continuation patterns it assumes that the prevailing trend will continue after the breakout.
So why keeping stop-loss at the pattern low?
If the trend is strong then breakout will be as strong as a trend too.
I don't applying a re-test theory in my trading with short term patterns.
This are my views about trading short-term patterns. Critics are welcome to discuss.
Nota
It looks like a pullback is completed, and now ready to continue on going up-trend with a flag breakout.We are trading probabilities, we can't predict future prices, but we can trade what is probable as per our learning and experience.
Nota
Centurytex 513 trading at 0.618% retracement. Closing above 0.618& re will be a good bullish sign.Nota
Closed at 521.50 above 0.618 Re.Nota
Trailing Stop-loss to the Entry price and using a covered call, lowering the risk. CMP 530 SPOT & writing 30JAN 560 CE at 7.60
Nota
Century Textiles New 52 Week High. 449.80Nota
Typo *549.80Dagangan ditutup: sasaran tercapai
Century CMO 600. The target of 590 Achieved, It's a 20% Jump. However, my gains are restricted to 15% or 77 Rs due to a covered call. But Still it decent gain.
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