Free Stock, Commodity, Forex Trading Tips & Education Articles

Awaiting Triangle Thrust in SRF

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Getting started with today’s real-time research, I’m going to talk a little about triangle types and their position. If you are calling from my recent posts, I have written various types of Triangles: 1. Contracting triangle, Expanding triangle, and Barrier triangle. I’m going to be showing you a triangle thrust measurement technique and going to be utilized to identify a high probability target. The Triangles are limited in where they can from by themself at wave 4, Wave X and Wave B and rarely wave 2.

Protective Stop, Critical Resistance and Failed Pattern:-
Only word of caution with respect to this pattern in this market at this time that prices have yet to get below extreme of wave “D”. On an hourly closing basis being the case, that means we can actually see maybe another move to the upward OR a more time-consuming wave “E” OR wave “E” itself can actually form into a triangle. Therefore, until the price actually get below the extreme of wave “D” on an hourly closing basis. You need to do is simply view this point right here in the extreme of wave “C” as are critical support level for this interpretation. Whenever the price close above critical support, it means simple I’m wrong. But, the price would come below extreme of wave “D” on a hourly basis that would provide very strongest evidence for this pattern is indeed to complete. And, then the price is going to see a thrust.

Thrust Measurement Technique:
At the origin of the move for ABCDE triangle or simply taking the widest portion of the triangle in measuring it. In this real-time instance, expecting trust measurement move is approximately at 2226 downside from the extreme of wave E.

Trade-Setup:
I’ll divide the “Trade-Setup” into two portion, one for Aggressive Trader and other for Safe-Trader. The safe trader can take action after breaking down wave “D” on basis that means after revealing the evidence of thrust move. An aggressive trader can act at or nearby “Critical Support” in advance. Yes, absolutely traders can create their position at these both trade-setup.

Therefore,

Trade 1: Sell SRF in base of cash/equity market price 2495-2425 for Aggressive Traders

Trade 2: For the Safe Traders, Sell 2410 below and protective stop is above wave “E” after confirmed and, target ratio 1:3 minimum.

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NSE BPCL – Barrier Triangle within Barrier Triangle

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Free nse stock bpcl weekly chart calls

Timeframe -Weekly

Today, I’m talking about real-time “Barrier Triangles” which developing on BPCL and very specific aspect of this triangle that I’ve encountered numerous times and that’s the frustrating aspect or characteristic of a triangle stuff to sometimes. In this instance, we are looking at a triangle where we actually have a triangle within triangle.

Let me explain you my price chart over real quick, and you’ll see exactly what I’m talking about. Notice we have connected by trend line waves A and C is horizontal and waves B and D sloping downward therefore, we reveal barrier triangle.

Breakdown – 357 expecting more fall.
Resistance – at or nearby 419

But here, lower TF research can increase odds and confident for trade setup.

I will shortly update – lower TF here.

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NSE: Abbott India Elliott Wave Projection

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Free nse stock abbotindia chart calls

Overview:

Abbott India has accomplished the impulsive wave 3, and the price is forming corrective wave 4. Price has occurred the sub-wave A. and Sub-wave B. Sub-wave C of 4th wave is in progress.

After completion of wave 4, the price will start its bull run.

Fibonacci relationship and wave Formations:

Wave ((1)) is a five-wave impulse.

Wave ((2)) retraced 50% of wave ((1)).
Wave ((2)) has taken 23 months to finalize.

Wave ((3)) is a five-wave impulse.

Wave ((4)) looks like a sharp correction.

Rule of alternation indicates variation between two corrective waves in terms of time, distance, and formation.

Because wave ((2)) was a complex correction, wave ((4)) should be a sharp correction.

Destiny of wave ((4)):

Wave ((4)) can terminate near the previous corrective wave (iv) at 13994.

Wave 4 can end at, 15064, which is a crucial support level.

The common retracement of wave ((4)) is 38.2%, but the price has broken down to this level. Next Fibonacci retracement level is 50% at, 13967.

Please note that the corrective channel has broken down, so bulls can enter when the price renter into the parallel lines. Otherwise, the price has bearish sentiments.

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2020’s Uptrend Channel Is Everything For MCX Nickel

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free commodity mcx nickel daily chart tips

MCX Nickel is following the above uptrend channel from 23 Jan 2020. And making a good trade opportunity for commodity traders. Nickel’s upward trend is not over yet. But we may see a downfall below the control price, and it can be up to 1686 – 1620.

But what happens if it breaks the control price?

It’s a 100% sign for a buy signal. But intraday or short-term investors should confirm that breakout before proceeding. And they must look out for candle’s fakeout. Afterward, be ready for the targets of 1800 – 1840 – 1876+.

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NSE PEL Is Preparing for 2400 – 2301

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free stock market nse pel chart calls

TARGETS:
Traders can initiate short positions for the following targets:
2400 – 2376 – 2301 – 2279

BUT DON’T TRADE BLINDLY. Read this following research to get how it is making selling opportunities for the intraday traders.

PEL is forming a double combination pattern on the 4-hour timeframe chart. Price has constructed LL(lower-low) and LH(lower-high) to confirm the bear’s existence.

Wave Formations:
Wave (W) is a double zigzag formation with seven wave structures.
Wave (X) is a contracting triangle with five sub-wave structures.

Wave (Y):
Sub-wave wave A & B has occurred, and wave C is progressing.
Sub-wave B has completed at 61.8% Fibonacci retracement of wave A at 2531.

The culmination point of wave C:
Wave C can end at 61.8% of wave A at 2279.
Wave C can cease at 50% of wave A at 2333.
Wave C can conclude at the control line, and 61.8% of wave ((W)) at 2376.
After completion of wave C, the price will start its bull run.

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NSE Godawari Power – Money Making Tree

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Free nse gpil chart tips

GPIL has formed a downtrend channel for the last six months.
Price has created 5 no trading zones. No trading zone is an area where trading activities haven’t taken place. It has constituted 2 excess on the lower band and 3 rejections, 2 rejections from the upper bend.
The control line has made eight touches.

Currently, the price is on the upper band of the parallel channel.
Don’t forget that price has provided two successful rejections from the upper band.

The trader can initiate a short position for the following targets of 313 – 304 – 290.
Invalidation: Breakout of the parallel channel.

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