Friday, September 25, 2009
Bearish Butterfly In Wipro - 25th Sep 09
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Wipro Intarday Chart - 5 Min:
Wipro formed a Bearish Butterfly pattern Yesterday and triggered reversal today morning, first target is already reached. There is still down side possible but due to high risk/reward not advisable to enter the trade now. Couldn't post due to time constraint. Posting it for the study purpose.
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7 comments:
any updates on this Doji. what's right price to go short?
Hi Krishna,
As I mentioned, this post was only for study and not meant for new trades due to high risk reward by the time I posted.
I booked 50% at 1st target and closed the remaining at 576 in the morning today.
Doji
Thanks a ton for your response.
Cheers
Hi doji is the nifty formed the bearish butterfly in the chart TODAY, I am in learning of harmonic paaterns I think its bearish BUTTERFLY pattern.
X-5003,A-4932,B-4986(4990 IS 78.6 0F XA LEG)C-4949(4953 IS 61.8% OF BC VIZ IS BOUNCE BACK FROM THIS LEVEL) & PROJECTION OF BC leg 161.8% COMES TO 5009 WHICH IS NOT HOLD TODAY.plz comment on it reply awaiting.Is it right to say?
Hi Doji,
plz see the link of bearish butterfly.
http://www.dropshots.com/daredevils619#date/2009-09-30/09:29:06
Hi Viju,
You may consider it as butterfly.
miss your views-inputs today, Doji.
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