TechM - Trading Choppy E-Wave of the Triangle

6 mar 2017

Don't forget to read -Starting the TechM Journey in TradingView

Let us trade in the E-wave which is very choppy & toughest to trade because it is against the larger degree trend which is downward since highs@748 in 2015.

Likely it has traced a B-wave triangle & it is a valid pattern till 564 is intact - Critical level for future trading is 564- Going above 564 this pattern invalidates.

Trading Strategy

Short Term Scenario
Look for a bounce above 505-506 to the previous swing highs 515-520 once it holds above 505-506 - Play Safe -Get Heaven.

Medium Term Scenario
If it starts moving above 525 & sustains above, then we look for a higher push possibly for the zone 540-555 zone, but, yes keeping in mind 564 which is critical level as a long term selling can resume if 564 is intact on top.

Long Term Scenario
Moving below key level 425 - first need to leak below double bottom 405-later below moves deep down for 325-335 zone as discussed earlier.

You would love to read my previous updates


Hold your nerves till 477 broken

A part of E-wave above double bottom 405 - Boom

A lesson to be taken home as a wise trader

Starting the TechM journey in TradingView

10 mar 2017

Trade attivo

12:57 Hrs 10th March2017

Last Price@479

Falling below 505-506 - High was 507.25 - As suggested above if holds above 505-506 then we see TECHM to 515-520 zone

Wow!- It is falling straight down, but be careful -larger downtrend starts only below 425 - In between it can again bounce back.

Trader's Paradise

15 mar 2017

Trade attivo

11:21 Hrs 15th March2017

Last Price@475

TechM also looks in trouble if it dips from here to 460-465 zone likely it will confirm for more on downside, then we will plan to enter downside below 425 for selling or on the bounce for selling.

29 mar 2017

Trade chiuso manualmente

23:50 Hrs 29th March2017

Last Price@458

Done & Out at 451.