Wave Strategy Home Forums Trader’s Forum RELIANCE CHANNELING AND WAVE COUNT

This topic contains 1 reply, has 2 voices, and was last updated by  Ashish Kyal, CMT 6 months, 2 weeks ago.

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  • #140951 Reply

    AANCHAL AGRAWAL
    Participant

    I initiated a buy trade at 927/- with a SL OF 900/- ; Due to the following reason : At bottom of hourly channel. Triangle correction pattern in Daily (currently seems to be in d-wave) Support from previous AUG-SEP  trend-line (the RSI shows divergence at the point from which this trend-line was made. ) Is my analysis correct and should I maintain my position?

    #141050 Reply

    Ashish Kyal, CMT

    Stick with the stoploss but buying should have been initiated on breakout of sideways action.

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