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Scaled out 50% at 210. Upmove not sustained, used to offload.
Net loss 0.35% on PF on 50% quantity.
Net loss 0.35% on PF on 50% quantity.
Closed totally at 213 yesterday! Cost of doing business 0.64% on PF.
Sharing a new concept of #RTG, a pattern which I take as a very powerful sign on charts. This is basically Red to Green transformation, #RTG - a term coined by me. Lets see it on charts. I had traded this last year in #GujaratGas, sharing that chart as well.
There is no rocket science behind #RTG, it is quite simple. In candlestick reversal patterns, the most important thing is how deep the candle retrace. Like between Thrust, Piercing & Engulfing, the basic difference is nothing but the depth of retracement. The thrust 2/n
being the weakest one, retracing less than half of previous opposite color bar. Piercing retraces more than half, while engulfing retraces beyond the complete opposite color bar. Take the same concept- in this the candle retraces beyond the opposite color candle by the gap 3/n
