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CENTURY TEXTILE : Risk/Reward 1:6

2020(6)
Long Centurytex

Entry 490
Stop-loss 473
Target 590
Risk/Reward 1:6

I explain more about my analysis later in updates.
노트
Bullish Flag Breakout.

One thing i hate about all the chart patterns is placing a stop-loss at the pattern lows. That spoils a RR Ratio.

Bullish Flags are continuation patterns it assumes that the prevailing trend will continue after the breakout.
So why keeping stop-loss at the pattern low?
If the trend is strong then breakout will be as strong as a trend too.
I don't applying a re-test theory in my trading with short term patterns.

스냅샷

This are my views about trading short-term patterns. Critics are welcome to discuss.
노트
It looks like a pullback is completed, and now ready to continue on going up-trend with a flag breakout.

스냅샷

We are trading probabilities, we can't predict future prices, but we can trade what is probable as per our learning and experience.
노트
Centurytex 513 trading at 0.618% retracement. Closing above 0.618& re will be a good bullish sign.
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Closed at 521.50 above 0.618 Re.
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Trailing Stop-loss to the Entry price and using a covered call, lowering the risk.
CMP 530 SPOT & writing 30JAN 560 CE at 7.60

스냅샷
노트
Century Textiles New 52 Week High. 449.80
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Typo *549.80
거래청산: 타겟 닿음
Century CMO 600. The target of 590 Achieved, It's a 20% Jump.

However, my gains are restricted to 15% or 77 Rs due to a covered call. But Still it decent gain.

스냅샷

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