KK's Corner
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Here is an interesting technique to project targets. Remember, the targets do not matter much if you have an established trend following approach. And targets may be hit or may not be. But in my experience, the technique showed here is very reliable. These targets do get achieved 'eventually". So I view them more as an opportunity to say "Maine Bola Tha" some time in the future. With that caveat here is the chart of Elecon Engineering in 1% box size.
This concept is based on two principles.
- Breakout & retest. Notice the breakout above the middle line via a strong bullish anchor column. After the breakout, the price retraced to retest and sustain above the breakout line.
- 1:1 Channel projection
Hope you find this interesting & informative. Again, let me reiterate, these are just possible targets with no guarantee of being achieved.
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always helpful
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Looks interesting. Will use it for Target projection. Thank You for sharing KK sir.
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Very helpful one. Thank you Sir.
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How to plot the equidistant channel line ?
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You cannot plot equidistant channel in Tradepoint. I plotted it using the screenshot annotation software.
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Nice way to validate target also good concept to add to kitty, I am not sure how many concepts I have learnt from you KK sir, your depth of knowledge is amazing. Keep sharing.
