TVSMOTOR Analysis on Daily Timeframe!
Ascending Triangle Pattern in TVSMOTOR!
Resistance Breakout in TVSMOTOR!
TVSMOTOR has made an Ascending Triangle Pattern on Daily Timeframe. It has given a decent gap up breakout to it's resistance trendline before that price is making Higher Low's and formed an Ascending Triangle Pattern. TVSMOTOR tasted it's resistance about 2 times but couldn't break it. Today it has given breakout to it's resistance. As TVSMOTOR trading about All Time High so for price forecasting I have applied Fib Retracement from it's recent high to recent low and now we have our upside levels. These fib levels we can consider as our upside targets as well as resistances. Also TVSMOTOR has taken a good support at 50EMA and now trading above it so we can expect the price will go upwards.
Trade Psychology and Setup = 1190 after retesting
Entry = One can enter after Retesting
Target = Projected Target Will be 1696.65 and Fib Levels
Stop Loss = Below 1142.60
Disclaimer = All my analysis are for Educational Purpose only. Before entering into any trade - 1) Educate Yourself 2) Do your own research and analysis 3) Define your Risk to Reward ratio 4)Don't trade with full capital
Ascending Triangle Pattern in TVSMOTOR!
Resistance Breakout in TVSMOTOR!
TVSMOTOR has made an Ascending Triangle Pattern on Daily Timeframe. It has given a decent gap up breakout to it's resistance trendline before that price is making Higher Low's and formed an Ascending Triangle Pattern. TVSMOTOR tasted it's resistance about 2 times but couldn't break it. Today it has given breakout to it's resistance. As TVSMOTOR trading about All Time High so for price forecasting I have applied Fib Retracement from it's recent high to recent low and now we have our upside levels. These fib levels we can consider as our upside targets as well as resistances. Also TVSMOTOR has taken a good support at 50EMA and now trading above it so we can expect the price will go upwards.
Trade Psychology and Setup = 1190 after retesting
Entry = One can enter after Retesting
Target = Projected Target Will be 1696.65 and Fib Levels
Stop Loss = Below 1142.60
Disclaimer = All my analysis are for Educational Purpose only. Before entering into any trade - 1) Educate Yourself 2) Do your own research and analysis 3) Define your Risk to Reward ratio 4)Don't trade with full capital
Trade active:
Target 1 Reached
Trade active:
Target 2 Reached
Trade active:
Target 3 🎯 Reached!
Comment:
Target 4 🎯 Reached!
Trade active:
We are going towards our Projected Target!
Trade closed: target reached:
Our Projected Target has been successfully reached!
Avinash K.