This is in continuation of our HBL wave count/idea shared earlier.
HBL is most probably in wave C of Z which will take price up towards 214-217 range area, however prices can start declining after reaching the blue trendline at 196-200 level.
We will look forward to short sell HBL once price reach 214-217 level i.e. if the volume divergence remains intact. It is due to volume divergence that we are not marking our alternate impulse wave count, however volume divergence can be easily wiped out with prices forming a high volume bullish day until then we are sticking with our current wave count.
(Posting this with delay as we are already active in this trade at 185)
Trade setup:
Entry price: 185
Stop loss: 152
Targets:
T1: 196 - 200
T2: 214 - 217
Let see how this plays, Good Luck!
Disclaimer: The information presented in this wave analysis is intended solely for educational and informational purposes. It does not constitute financial or trading advice, nor should it be interpreted as a recommendation to buy or sell any securities.
HBL is most probably in wave C of Z which will take price up towards 214-217 range area, however prices can start declining after reaching the blue trendline at 196-200 level.
We will look forward to short sell HBL once price reach 214-217 level i.e. if the volume divergence remains intact. It is due to volume divergence that we are not marking our alternate impulse wave count, however volume divergence can be easily wiped out with prices forming a high volume bullish day until then we are sticking with our current wave count.
(Posting this with delay as we are already active in this trade at 185)
Trade setup:
Entry price: 185
Stop loss: 152
Targets:
T1: 196 - 200
T2: 214 - 217
Let see how this plays, Good Luck!
Disclaimer: The information presented in this wave analysis is intended solely for educational and informational purposes. It does not constitute financial or trading advice, nor should it be interpreted as a recommendation to buy or sell any securities.
Trade active
Trade setup:Entry price: 185
Stop loss: 152
Targets:
T1: 196 - 200
T2: 214 - 217
Note
Target one reachedWe have closed 50% of our positions at 196 and will target 200 and 214 level with the remaining 50% positions on Monday
Note
200 reached, we have closed 25% more of our positions, next target is 214 let see if we can get there todayTrade closed: target reached
Since we have better opportunities at hand at the moment and we want to invest our money in our PPL and SNBL trades therefore we have closed the remaining 25% positions as well.Overall performance -
Entry price: 185
Exit price: 196 (50%), 200 (25%), 201.50 (25%)
Profit @ share: 13.37
Gross profit: 7.23%
Note
Price has reached the 215 level which was our 2nd target, since the divergence is still intact there is a strong possibility that prices will start to decline in the coming weeks.Alternately if prices wants to keep this bullish momentum going then the volume should rise.
Note
We have gone thru our alternate wave structure which suggests that price might dip toward 200-210 level and then bounce up towards 240-260 level giving away almost 20% to 25% gain but we are not going to take this trade as both our preferred and alternate waves suggest that this is the last leg up which is either completed or will complete soon.Once this wave completes prices might fall sharply towards 170-150 levels or even below that.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.