InsiderB
Long

SBI Counter Trend Trade : An Analysis

NSE:SBIN   STATE BK OF INDIA INR1
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 !
Comment: I hope you guys got in this trade..
Comment: Exited half of my positions and whatever comes after this is certainly extra :)
Technically it looks good. Nice setup! Good luck - Vlad
+1 Reply
InsiderB PRO VladimirRibakov
Thank you Vladimir :)
Reply
Thanks.
+1 Reply
Thanks,
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my target was more like 157 but this looks good too
+1 Reply
150's are possible if 190 acts as resistance, anyways closed half of my positions !
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great call ! got stopped out . do you see heading it further up _
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@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
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your target 201 succesully . what next now ? 240 ?
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No, I exited all my positions today. 240 is greed in my humble opinion
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