Hero Motors - ABCD Bullish Pattern

26 Eki 2016

It is been observed that the price action forming a bullish ABCD pattern, indicating further move up. It has retraced to 23.6% levels and now it shall further move up to 38.2% levels.

Target: 3482
Stoploss: 3375

27 Eki 2016

İşlem aktif

Opened up at 3470 close to target but drops immediately after that, signaling selling pressure. Now, if it breaks and closes below 3322 levels, then it shall further move down.

27 Eki 2016

İşlem kapandı: durdurma seviyesi

The pattern did work out well due to this reason:

Lesson: "If C retraces ~61.80% of AB, D should be 161.80% of BC" suggested by bbrijesh