There is a Shark pattern formation on the weekly chart of Crompton Greaves.
The Stock has been holding the first Prz zone of the pattern for the past many weeks.
There are many ways Shark pattern can be traded, I am sharing the easiest method that I follow mostly
One can Enter a limit order to buy between the 88% and 113% retracement levels. (looks for positive price action for confirmation)
1st Prz : 370-383
2nd Prz : 330-332
Stop loss at the 127% extension of the XC leg.
SL below 310 levels
Type of trade : positional
Disclaimer : Trade at your own risk.
The Stock has been holding the first Prz zone of the pattern for the past many weeks.
There are many ways Shark pattern can be traded, I am sharing the easiest method that I follow mostly
One can Enter a limit order to buy between the 88% and 113% retracement levels. (looks for positive price action for confirmation)
1st Prz : 370-383
2nd Prz : 330-332
Stop loss at the 127% extension of the XC leg.
SL below 310 levels
Type of trade : positional
Disclaimer : Trade at your own risk.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.