UPL - Breakout or Fakeout?

21 Eki 2016

UPL price action is now at a unique position. On one hand it is at all time highs trying to breakout above 720 but also formed a bearish AB=CD harmonic pattern.

Which one will prevail?

Breakout - if price closes above 720 & sustain further

Fakeout - If price closes below 720

Let's wait and see price action & see if we can enter Long or Short.

26 Eki 2016

Not

Still lingering around 720 - neither breaking out nor faking out. Wait for the price action to take action either way.

28 Eki 2016

İşlem aktif

UPL has faked out unable to break the 720 barrier.

Enter short at 680 with a SL of 710. TP of 490

3 Kas 2016

Not

Moving SL to 700

11 Kas 2016

İşlem elle kapatılmış

Stock has been Resilient. Booking profit @665