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Forming Double Top with high volume while crossing the neck line and create the long position
Trade plan
Symbol – DRREDDY
Trend – Bullish
Entry – 3650
SL – 3272
Target – 3932
@sangeetha, mam
why do you want to execute long position only when price reached 3650?, once you have identified that its a double bottom and its a reversal pattern ,( that is when price touched the bottom twice, at the same level and during one bottom the avg.vol was increasing) you could have executed long position @3400 levels
with a stop loss of 3272.Here @sangeetha view is traditional one, but this can be optimized over a period of time as mentioned by @vignesh (Creating long from the bottom levels)
The Double Top suggested by vignesh seems to be too early as the duration was not enough….
Ms Halima Risk Reward ratio concern is very important… The Risk and Reward proportion should be at least ONE.
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