Happy Monday.. Only we traders have the guts to say Happy Monday instead of Monday Blues :P
So lets jump to our analysis and why I am planning for an counter trend trade in SBI .
This is one of my favorite setups to trade, No matter what others say or think...I am deeply in love with counter Trend bcos it makes us analyze various reasons to enter trade & I like that analyzing part very much.That's why its My Favorite setup.
When you take a look at chart we can see there is an which ends up right in our marked . As of now market is 5mins away from opening, while I post SBI price may be away from our zone if gapup/gapdown happens today.
Do we have only no not at all ? If we look on eagle's view we have & also which I have drawn as two patterns in above chart. And this beauty comes across our synchronized with . I will be shorting SBI , only small positions in Gartley/ABCD zone and some more when completes if Market moves in .
Just one thing before we wind up, Countering trend is risky and people don't like to do, so only if you are aggressive trader take this idea and trade SBI , else I strongly advice you to keep this idea in radar n watch the trade, bcos staying away from trade is better than losing money in trade with high risk.
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Thanks to everyone of you !