Bank Of Baroda

I have here used the ABC pattern with subwaves 3,3,5. In the C wave as you can see is still forming. here are a list of reasons why i believe that this stock is about to correct.

• wave C is still still under completion with 2 subwaves remaining.
  
• Double top formation.
  
• Formation of indecision candle on both the tops.
  
• Channel formation where even if the there is another high, the upper bound of the channel would act a a resistance and retrace back to fib level 23.6% before continuing downtrend.
  
  

Please leave feedback and comments!!!
Cheers

Yorum:

Trade triggered today. And we are more than 70% closer to the target.

Yorum:

Although target has been reached. This is another good time to enter short in this trade. Lets ride it all the way down

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Markets may go up so closing the trade. I have a strong upward bias.