Hero Motors is forming bearish gartley and may go down.
, , Double Top
, , Double Top
Recently Active Members
Bullish View
Bearish View
-
Bearish-GAP-SHORT-BICON-25-10-2019 October 25, 2019
-
FEDERAL BANK – BEARISH ENGULFING October 17, 2019
-
Cummins India – Bearish Engulfing – 24Sep19 September 25, 2019
-
Day29-Tata Motors DVR – Bearish Piercing – 12Sep19 September 12, 2019
-
Day27-Bearish-Engulfing pattern-Tech Mahindtra-09Sep19 September 10, 2019
Hi,
The first top is not qualified since it doesn’t have a prior bull rally. This stock is already falling from the top and your trade plan is not appropriate.
Trade plan for your reference- You would trade the stock by creating short position in the stock when it breaks down from the lower support line. Ideally you enter the trade immediately after breakdown from the support line with high volume conformation.
Stop loss for the trade is the upper resistance line or you can place slightly higher than that.
To find the Target for the trade, find the difference between the prices at the upper resistance line and the lower support line.
Refer the attached double top pattern.and also refer our eqsis study material.