Discover and read the best of Twitter Threads about #BHEL

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Reason & Psychology Behind my trade #BHEL
~ I saw rounding bottom pattern formation in Daily chart as well as various base formation on weekly chart.
~ Generally, I initiate buy trade after I expect 3rd base formation on weekly chart.
The advantage of rounding bottom or big base formation is that we can capture the trend 10% to 15% early i.e before breakout
Sometimes risk to reward ratio is far more important than accuracy
I expect these rounding bottom or big base formation may later convert into an uptrend
~ I have the right to go wrong if goes wrong SL is there to take care of it.
~ I take low of the rounding bottom or big formation as SL on the closing basis.
~ My accuracy is 60% to 65% of this set-up but risk to reward ratio is very high.
Read 7 tweets
Few observations on #Accumulation pattern in #BHEL

Interesting to see how multiple things add up when price is near inflection point of new breakout. Lets see how it goes. Image
Today's Follow through Volume on the Upside in #BHEL speaks a lot about DIRECTION now...

#Update Image
Updated chart of #BHEL .... The current pattern do not look like the one made during Sep-Oct 2019. The current move has much more accumulation signals than before. However, now the negation point is 30 SMA. (in previous upmove stock tested 200 SMA.. that probability is high now) Image
Read 4 tweets

It's wonderful Bullish set up.😀

*** Volume, Traded Value & Delivery%...... Up.
*** Consolidation for more than month in a Narrow range.
*** Unwinding in shorts from 30 March to 10 Apr.... Indicated with Orange color.

*** Fresh position added in Futures from 10 Apr on words.... Indicated with Green arrow.
*** Quite accumulation in progress. Fall in ATR value and daily volatility.
Read 6 tweets

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