Jump to: Pattern Result
Date and Arrival Time: 2020-11-25 15:30
Symbol Name: TATAMOTORS
Pattern and Direction: Bullish Cypher
Pattern Completion Price: 169.3, Pattern Ideal Completion Price: 168.05
An Approaching Bullish Cypher has arrived at EOD on the 25th of November.
This is an approaching pattern, meaning it has not yet reached exact completion, but is within the bounds of almost reaching the ideal price. Since exact Fibonacci ratios are a rarity, a trader may opt to choose patterns that are in the Approaching stage, waiting for them to reach their Completion.
There is a potential Buy opportunity at 169.3. A safe stop-loss for this Cypher can be kept at level X: 165.65 as per the Cypher definition, or 1% below 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. – Success!
After 1 trading day of respecting the pattern completion level but not making a major move, TATAMOTORS burst through the level of the 26th to climb over 5% above the completion. View the results of this BULLISH Cypher below:
