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praveen.bhatiya
2016년 10월 29일 오전 11시 28분

Classical trade using Trendline, Channel & Engulfing 

BAJAJ AUTO LTDNSE

설명

The stock is getting support at up sloping trend line. Probably we can use this pull back for entering a long at this level. My idea has following justification
1. closed out of downtrend regression channel
2.Made an engulfing covering the previous candle completely.
3. Trend line support.
4. Mostly at this level of RSI it changes the trend.
5. Trend reversal entry on 1st bar offers a good Risk to reward ratio.
I would take entry on Tuesday and see how it works.

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