R
@smart_trade...trying to be of some utility....I read your posts from the beginning...damn good..
a/c to me DLF is a sell and an attempt can be taken on DLF on the short side
at the same time I may be wrong also...but I do have logic for my trade:
Logic of the trade is following:
DLF today has made a bearish harami pattern on daily charts ...and this pattern has more significance at the top of an uptrend ..considering that DLF has rallied from 192 to 226 in a very short span of time ...
DLF is below its 200DMA @233...SO the stock is in an overall downtrend
Today and even yesterday the stock has made a 8 day high ...
on hourly charts the stock is out of overbought zone in RSI
MACD has been closing in on the hourly charts and on half hourly charts MACD has already triggered a sell...
Again on hourly charts first a hanging man followed by a shooting star with more than double the volume of previous one has been made..(The pattern may change according to the time set for hourly charts).
So an attempt can be taken to sell with 234 as the stop-loss
I have all the logic for the trade.....whether I succeed or fail is another matter...only thing I know is how much I can loose...so I do not define targets...let the markets define it...:thumb:
a/c to me DLF is a sell and an attempt can be taken on DLF on the short side
at the same time I may be wrong also...but I do have logic for my trade:
Logic of the trade is following:
DLF today has made a bearish harami pattern on daily charts ...and this pattern has more significance at the top of an uptrend ..considering that DLF has rallied from 192 to 226 in a very short span of time ...
DLF is below its 200DMA @233...SO the stock is in an overall downtrend
Today and even yesterday the stock has made a 8 day high ...
on hourly charts the stock is out of overbought zone in RSI
MACD has been closing in on the hourly charts and on half hourly charts MACD has already triggered a sell...
Again on hourly charts first a hanging man followed by a shooting star with more than double the volume of previous one has been made..(The pattern may change according to the time set for hourly charts).
So an attempt can be taken to sell with 234 as the stop-loss
I have all the logic for the trade.....whether I succeed or fail is another matter...only thing I know is how much I can loose...so I do not define targets...let the markets define it...:thumb: