Hi All,

I am going start this thread to post charts of pattern breakout trading. These calls should be considered as positional calls. Seniors and fellow members are requested to post their views on this so that if I am missing something we can improve on that for the benefit of all.

Attached is the chart of Alembic LTD. Stock is closed at 43.5 and is a breakout based on Cup and Handle pattern.
Positional Buy above 43.5 SL 39 on closing basis Target 47.5/50/53

Thanks
Abhinav

Attached Images

AlembicLTD.png (41.8 KB, 247 views)

Thanks abhinav,

continue.

Originally Posted by abhinkoi

Hi All, I am going start this thread to post charts of pattern breakout trading. These calls should be considered as positional calls. Seniors and fellow members are requested to post their views on this so that if I am missing something we can improve on that for the benefit of all. Attached is the chart of Alembic LTD. Stock is closed at 43.5 and is a breakout based on Cup and Handle pattern. Positional Buy above 43.5 SL 39 on closing basis Target 47.5/50/53 Thanks Abhinav

One more similar breakout is seen in HDIL. Any dips till 265-75 can be used to buy HDIL SL 235 on closing basis TGT 350/400. Will keep posting the updates on these 2 calls...You can see while forming the handle the volumes were decreasing and when it broke out you can see a sudden spurt in volumes...which makes it a perfect BO....

Attaching the chart as well...

Thanks
Abhinav

Attached Images

HDIL.png (37.2 KB, 155 views)

Are you sure it can be called a CnH? the peak in the middle of the cup is as high as the handle itself.

Chai peene ki baat hi mat karo.

__________________
Whoever said picking tops and bottoms is not possible was lying, I always buy at the top and sell at the bottom.

Originally Posted by lazytrader

Are you sure it can be called a CnH? the peak in the middle of the cup is as high as the handle itself. Chai peene ki baat hi mat karo.

Yes it looks like a CNH to me. Lets see if it works
I am sure this shape can carry one cup of tea...for sure

take care
Abhinav

Originally Posted by abhinkoi

Hi All, I am going start this thread to post charts of pattern breakout trading. These calls should be considered as positional calls. Seniors and fellow members are requested to post their views on this so that if I am missing something we can improve on that for the benefit of all. Attached is the chart of Alembic LTD. Stock is closed at 43.5 and is a breakout based on Cup and Handle pattern. Positional Buy above 43.5 SL 39 on closing basis Target 47.5/50/53 Thanks Abhinav

Today Alembic LTD has touched 49.55 which is close to the 2nd target. A perfect breakout happened. More to come. Book 50% profits...Take care..

Abhinav

Abhi

I agree with lazytrader about the chart of HDIL... The stock is now making higher high and higher lows after a down move.. a normal intermediate uptrend pattern...does look like you are trying to curve fir the chart to the pattern.. not finding fault with you... it is the usual pitfall most pattern traders get into...

regards

Cup and handle @ a market bottom works best, in up trend it has high failure rate

Originally Posted by karthikmarar

Abhi I agree with lazytrader about the chart of HDIL... The stock is now making higher high and higher lows after a down move.. a normal intermediate uptrend pattern...does look like you are trying to curve fir the chart to the pattern.. not finding fault with you... it is the usual pitfall most pattern traders get into... regards

Hello Karthik,

thanks for your input. so this is not an ideal CNH pattern? if yes what exactly is missing in it so that from next time I can take care of that as well.

BTW I have added more position to it when I saw the NO Supply (as per VSA theory) in it few days back..attaching the chart for your review...
pls suggest.

thx again for letting me know when im not doign right...this helps me improve the way i think and trade...

Cheers
Abhinav

Attached Images

HDIL.png (29.2 KB, 102 views)

Originally Posted by edakad

Cup and handle @ a market bottom works best, in up trend it has high failure rate

I agree with you but does this pattern work as a continuation pattern as well? Pls let me know...coz the point where I picked it up seems to be a continuation pattern...i may be wrong...

thx
abhi