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.
~ 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.
https://twitter.com/uddeshya_kumar_/status/1324335771793330176
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
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.
~ 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.
Daily chart of BHEL. 
Weekly chart of BHEL
~ I have tried to explain the reason in a very simple way. It may look simple to me because I have practice this pattern a lot and trained my eyes accordingly
I have given several other trades on the same setup. Some of the stocks are #GRAVITA #JUBILANTLIFE #ADANIPOWER on my twitter account.
Reviews are welcome.
@arpit_goel_ @Investor_Mohit @jigspatel1988 @ST_PYI @Puretechnicals9 @caniravkaria
Reviews are welcome.
@arpit_goel_ @Investor_Mohit @jigspatel1988 @ST_PYI @Puretechnicals9 @caniravkaria
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