Don't forget to read -Starting the TechM Journey in TradingView
Let us trade in the E-wave which is very choppy & toughest to trade because it is against the larger degree trend which is downward since highs@748 in 2015.
Likely it has traced a B-wave triangle & it is a valid pattern till 564 is intact - Critical level for future trading is 564- Going above 564 this pattern invalidates.
Trading Strategy
Short Term Scenario Look for a bounce above 505-506 to the previous swing highs 515-520 once it holds above 505-506 - Play Safe -Get Heaven.
Medium Term Scenario If it starts moving above 525 & sustains above, then we look for a higher push possibly for the zone 540-555 zone, but, yes keeping in mind 564 which is critical level as a long term selling can resume if 564 is intact on top.
Long Term Scenario Moving below key level 425 - first need to leak below double bottom 405-later below moves deep down for 325-335 zone as discussed earlier.
You would love to read my previous updates
Hold your nerves till 477 broken
A part of E-wave above double bottom 405 - Boom
A lesson to be taken home as a wise trader
Starting the TechM journey in TradingView
액티브 트레이드
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12:57 Hrs 10th March2017
Last Price@479
Falling below 505-506 - High was 507.25 - As suggested above if holds above 505-506 then we see TECHM to 515-520 zone
Wow!- It is falling straight down, but be careful -larger downtrend starts only below 425 - In between it can again bounce back.
Trader's Paradise
액티브 트레이드
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11:21 Hrs 15th March2017
Last Price@475
TechM also looks in trouble if it dips from here to 460-465 zone likely it will confirm for more on downside, then we will plan to enter downside below 425 for selling or on the bounce for selling.
매매 수동청산
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23:50 Hrs 29th March2017
Last Price@458
Done & Out at 451.
코멘트
Epicram
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Your updates are really helpful for us to know the current condition and its future.
thx bro for update ---m holding shorts around avg 500 with your view
WaveTalks
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@indiagmb, This position of yours is an old position.
indiagmb
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@AbhishekHSinghCMT, i sold 3-4 days ago
WaveTalks
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@indiagmb, As far as I know I haven't put any update in last 3-4 days when you took position -otherwise I move with price & monitor closely.My last update saw a sharp fall fro 460-470 to 425-430 zone -when I updated -Run Away like a thief- that was the last on 31st Jan2017.
indiagmb
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@AbhishekHSinghCMT, i know bro..i sold for daily time frame ---no issue
WaveTalks
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@indiagmb, Then you should have capacity to take the risk because moving above 505-506 -short term, it will push up in the previous swing 515-520 where it will be decided next.