SYM PROBABLY IN WAVE '' C '' OF " B " - LONG

Aug 22

SYM is most probably in wave 2 or B

Our preferred wave count suggests that we are in wave b of B which is either completed or will give one more leg down before targeting the 17 level as wave C.

Alternately the entire wave B is completed and will start a decline as bigger wave C taking price towards the 5 - 7 level

We will take trade only if price touches the below red line with a strict stop loss. If prices goes up directly from here then we will not take this trade.

Trade Setup:

Entry level: 14.70 - 15

Stop loss: 14

Target: 17

Let see how this plays, Good Luck!

Disclaimer: The information presented in this wave analysis is intended solely for educational and informational purposes. It does not constitute financial or trading advice, nor should it be interpreted as a recommendation to buy or sell any securities.

Aug 25

Note

*correction

We will take trade only if price touches the below green line (not red line) with a strict stop loss. If prices goes up directly from here then we will not take this trade.

Aug 26

Note

Price has declined and we look forward to buy near 14.65 - 14.55, will place are orders early in the morning.

Aug 27

Note

We are in the buy zone, yesterday we did not reach 14.65 - 14.55 level. Most probably we will get our orders filled today.

Remember to keep a strict stop loss on this trade.

Aug 27

Trade active

We are active in this trade now.

Entry level: 14.66

Stop loss: 14

Target: 17

Aug 30

Note

Price bounced of the green trendline, if the bullish momentum continues next week, price will target 16.25 level and then 17 level.

We have decided to close 50% positions at 16.25 & 50% at 17. Stop loss remains the same.

Sep 4

Note

Although our wave count is still valid and price is still above the green trendline, the price has not moved as anticipated therefore we have decided to raise our stop loss to 14.63 now.

Stop Loss raised to: 14.63

4 days ago

Trade closed manually

Looking at the minor wave structure developing on our Karachi All Share chart, we are anticipating a market correction from 96000 level.

we have decided to allocate our funds somewhere better because if this correction does unfold, then it can easily last for 12 to 120 days therefore we have closed this position at 15.05

Overall performance -

Entry price: 14.66

Exit price: 15.05

Profit @ share: 0.39

Gross profit: 2.66%

3 days ago

Note

The price broke up and closed up as well, however 16.25 did come in to play. There's a strong possibility that market will reach 17 level tomorrow.

Educational note:
Those who are new to trading, such things happen all the time. You will feel like market falls down when you buy and goes up when you sell it but it doesn't matter, the only thing that matter is that you remain on the winning side of your trades.