Hello and welcome to this analysis
The stock is at the PRZ of a Bullish Harmonic Cypher formed in Weekly time frame.
A bounce/reversal till 340 to 375 is probable as long as it does not break 250.
Risk Reward for the trade is v good at 1:3
Harmonic Trading Patterns consolidate and then give strong follow through of trends. Since this is based on weekly time frame, trading it via derivatives could be risky as it will be a time consuming one with pullbacks and sideway along the path till its target, hence, cash based entry is advisable.
The stock is at the PRZ of a Bullish Harmonic Cypher formed in Weekly time frame.
A bounce/reversal till 340 to 375 is probable as long as it does not break 250.
Risk Reward for the trade is v good at 1:3
Harmonic Trading Patterns consolidate and then give strong follow through of trends. Since this is based on weekly time frame, trading it via derivatives could be risky as it will be a time consuming one with pullbacks and sideway along the path till its target, hence, cash based entry is advisable.
Kommentera:
book part here @ 315 and trail rest for 340-375
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