HeroMoto : 120min : Observations
HeroMoto is giving a bearish indication on various parameters.
1. In a strong supply zone. Unable to sustain at those levels.
2. Negative RSI divergence (Mere RSI divergence is not a trigger for a trade, but in combination with other factors, it acts as an additional trigger)
3. Probable Trendline break, on downside
4. Head & Shoulder pattern under formation. Completion of Right shoulder and break below trendline would result in a good fall.
How to trade :
WE SHOULD WAIT FOR THE FORMATION OF RIGHT SHOULER. ONCE IT BREAKS BELOW THE NECK LINE OF H&S.. ON A PULLBACK, we can short HeroMoto in Intraday or as in a swing trade.
Will post an update about exact levels here, once it breaks the trendline (i.e. probable neckline of H&S)
Keep an eye.
Happy trading.
1. In a strong supply zone. Unable to sustain at those levels.
2. Negative RSI divergence (Mere RSI divergence is not a trigger for a trade, but in combination with other factors, it acts as an additional trigger)
3. Probable Trendline break, on downside
4. Head & Shoulder pattern under formation. Completion of Right shoulder and break below trendline would result in a good fall.
How to trade :
WE SHOULD WAIT FOR THE FORMATION OF RIGHT SHOULER. ONCE IT BREAKS BELOW THE NECK LINE OF H&S.. ON A PULLBACK, we can short HeroMoto in Intraday or as in a swing trade.
Will post an update about exact levels here, once it breaks the trendline (i.e. probable neckline of H&S)
Keep an eye.
Happy trading.
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