SBILIFE Double top Breakdown ??!!!
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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!!!!
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!!!!
Giao dịch đang hoạt động
At the perfect resistance level!!!Ghi chú
still the trade setup looks intact!!!!Ghi chú
good going as per pattern!!!Giao dịch đang hoạt động
Giao dịch đang hoạt động
1st target done!!!Giao dịch được đóng thủ công
2hr closing out of the trendline...better to exit and take entry afterwardsGhi chú
looks like retracement to 1146 levels...Giao dịch đang hoạt động
Ghi chú
2hr breakdown again!!!
target 2 onn!!!
Giao dịch đang hoạt động
Ghi chú
2nd target done!!!Ghi chú
lower low formed....tested the low of 1st feb long bearish candle....Đóng lệnh: đạt mục tiêu
3rd target too done & dusted!!!1045 support level
let's see if it break it or not!!!
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