InsiderB
Long

SBI Counter Trend Trade : An Analysis

NSE:SBIN   STATE BK OF INDIA INR1
6 months ago
Markets always has tendency to fill gap zones.

If you draw fib extensions / retracements on previous few swings , every 1.618 extension ends up in our marked zone

1618             is more valid ratio & we can expect market to move up after reaching the zone.

ABCD pattern completion also in same zone.

This is 4h chart of SBIN so will take time to complete, just keep it your radar

Happy Trading !
6 months ago
Comment: I hope you guys got in this trade..
6 months ago
Comment: Exited half of my positions and whatever comes after this is certainly extra :)

*** With Great Power, there comes Great Responsibility ***
Technically it looks good. Nice setup! Good luck - Vlad
+1 Reply
InsiderB VladimirRibakov
6 months ago
Thank you Vladimir :)
Reply
AMBRISH
6 months ago
Thanks.
+1 Reply
AMBRISH
6 months ago
Thanks,
Reply
booze765
6 months ago
my target was more like 157 but this looks good too
+1 Reply
InsiderB booze765
6 months ago
150's are possible if 190 acts as resistance, anyways closed half of my positions !
Reply
booze765
6 months ago
great call ! got stopped out . do you see heading it further up _
Reply
InsiderB booze765
6 months ago
@booze765, Sorry to hear about your loss, but AB=CD pattern in this SBI chart was for long trades & I suggested to buy around 170's
Reply
booze765
6 months ago
your target 201 succesully . what next now ? 240 ?
Reply
InsiderB booze765
6 months ago
No, I exited all my positions today. 240 is greed in my humble opinion
Reply
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