BPCL H&S Pattern Break Down
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BPCL 1Hr Chart - Completed 5 Impulse wave then entered in correction with H&S pattern
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Price structure seems to be a classic neckline reversal. When the price bounces off the neckline of a head and shoulders pattern and reverses, it often signals a potential downward trend. This can indeed be considered a good entry point for a short sell, as the risk-reward ratio is favorable if the pattern holds true
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