Jump to: Pattern Result
Date and Arrival Time: 2020-11-27 10:10
Symbol Name: NMDC
Pattern and Direction: Bearish Wolfe Wave
Pattern Completion Price: 97.20, Pattern Ideal Completion Price: 96.70
An Approaching Wolfe Wave has arrived at 97.2. A trader can wait for the ideal completion price near the level of 96.7 to be achieved to enter the trade.
This is a pattern with a formation span of 5 trading days, indicating any following move may be valid for 1-2 days, or intra-day moves, ideally.
There is a potential Sell opportunity at the price 96.7. A safe stop-loss for this Wolfe Wave can be kept at 1% above the completion, depending on the trader’s risk tolerance. PatternSurfer always advocates tight stop-losses to maintain the best risk-reward ratios .
UPDATE: 27th Nov EOD – Invalidated
This Approaching Wolfe Wave has been invalidated before reaching completion (did not display as Completed pattern), indicating it is not suitable for trading. View the result below to see the characteristics of this Wolfe:
