23-10-2014 08:12
My Trade Idea:
1. Buy Crude at CMP 80.48 with Strict SL 81.10, TGT 81.10-81.25, 81.50-81.60, 81.70-82.00, 82.2.
2. Sell between 81.50-82.25, SL 83.5, TGT: 80.1, 79.3, 78.9, 78.3, 77.3, 75.50.
3. Any move below 81.05 before crossing 81.7, Sell with SL 80.80 for the same down side targets.
AS I WAS READING MY CALL AGAIN, I REALISE THAT MY NUMBERS WERE WRONG. HERE BELOW THE EXACT NUMBERS AND ANALYSIS.
How the buy call given and how it is moving now? This is how I analysed and gave the buy and sell calls.
As per my analysis,
Resistances: 83.24/83.13 (start of wave)
Support: 80.05 (end of wave)
Based on this, I expected retracement / correction on the upside.
Retracement levels: 80.77, 81.22, 81.59, 81.95, 82.33, 82.47.
I expected minium correction 80.77(23.6%) and 81.22 (38.2%). When I gave the buy call high was 80.70.
So, I gave
1. Buy Crude at CMP 80.48 with Strict SL 81.10, TGT 81.10-81.25, 81.50-81.60, 81.70-82.00, 82.2.
Crude made high 82.36 which is more than 70.7%. According to my, my best sell entry is at 70.7%.
So, I gave
2. Sell between 81.50-82.25, SL 83.5, TGT: 80.1, 79.3, 78.9, 78.3, 77.3, 75.50.
82.23 (70.7%)
3. Any move below 80.05 before crossing 80.7, Sell with SL 80.80 for the same down side targets.
As per my analysis, If 80.7 was the end of correction, any move below 80.05 is next down move, so, I gave safe sell below 80.05 with SL 80.80.
But crude broken 80.7 and went up to my upside targets.
View 24-10.2014
Resistance 84.79 (Start wave).
Support: 80.05 (end of wave).
My strategy still remains the same SELL ON RISE.
As per my present wave count,
Retracement levels: 81.17, 81.86, 82.42, 82.97, 83.40 (level to watch n best sell entry), 83.77, 84.79 (100%)
We can sell crude at any level, but best entry would be if we get between 82.95-83.5. Positional SL: 85.
Targets: 80.1, 79.8, 79.14, 78.26, 77.33, 75.57.
THIS VIEW IS VALID AS LONG AS 84.80 HOLDS RESISTANCE.
My Trade Idea:
1. Buy Crude at CMP 80.48 with Strict SL 81.10, TGT 81.10-81.25, 81.50-81.60, 81.70-82.00, 82.2.
2. Sell between 81.50-82.25, SL 83.5, TGT: 80.1, 79.3, 78.9, 78.3, 77.3, 75.50.
3. Any move below 81.05 before crossing 81.7, Sell with SL 80.80 for the same down side targets.
AS I WAS READING MY CALL AGAIN, I REALISE THAT MY NUMBERS WERE WRONG. HERE BELOW THE EXACT NUMBERS AND ANALYSIS.
How the buy call given and how it is moving now? This is how I analysed and gave the buy and sell calls.
As per my analysis,
Resistances: 83.24/83.13 (start of wave)
Support: 80.05 (end of wave)
Based on this, I expected retracement / correction on the upside.
Retracement levels: 80.77, 81.22, 81.59, 81.95, 82.33, 82.47.
I expected minium correction 80.77(23.6%) and 81.22 (38.2%). When I gave the buy call high was 80.70.
So, I gave
1. Buy Crude at CMP 80.48 with Strict SL 81.10, TGT 81.10-81.25, 81.50-81.60, 81.70-82.00, 82.2.
Crude made high 82.36 which is more than 70.7%. According to my, my best sell entry is at 70.7%.
So, I gave
2. Sell between 81.50-82.25, SL 83.5, TGT: 80.1, 79.3, 78.9, 78.3, 77.3, 75.50.
82.23 (70.7%)
3. Any move below 80.05 before crossing 80.7, Sell with SL 80.80 for the same down side targets.
As per my analysis, If 80.7 was the end of correction, any move below 80.05 is next down move, so, I gave safe sell below 80.05 with SL 80.80.
But crude broken 80.7 and went up to my upside targets.
View 24-10.2014
Resistance 84.79 (Start wave).
Support: 80.05 (end of wave).
My strategy still remains the same SELL ON RISE.
As per my present wave count,
Retracement levels: 81.17, 81.86, 82.42, 82.97, 83.40 (level to watch n best sell entry), 83.77, 84.79 (100%)
We can sell crude at any level, but best entry would be if we get between 82.95-83.5. Positional SL: 85.
Targets: 80.1, 79.8, 79.14, 78.26, 77.33, 75.57.
THIS VIEW IS VALID AS LONG AS 84.80 HOLDS RESISTANCE.
