Andhra Sugars, Price range narrowing since 10 months.
All observations on chart.
Upper Trend line, if this trend line tested 8 times more than lower trend line. So if this line is crossed price will move sharply as compared to lower trend line as it is tested fewer times (4 times).
Over the 10 months narrow range volumes have increased significantly compare to 2017 up move.
Overall if you want to play out this breakout you can attempt a breakout trade by going long as it is much closer to lower trend line & more power will be on long side only.
As mentioned above SL is around 285-290 range. Risk is very low around 9%
Plan your trade accordingly & be ready for downside if it breaks lower line, chances are lower for breakdown.
Upper Trend line, if this trend line tested 8 times more than lower trend line. So if this line is crossed price will move sharply as compared to lower trend line as it is tested fewer times (4 times).
Over the 10 months narrow range volumes have increased significantly compare to 2017 up move.
Overall if you want to play out this breakout you can attempt a breakout trade by going long as it is much closer to lower trend line & more power will be on long side only.
As mentioned above SL is around 285-290 range. Risk is very low around 9%
Plan your trade accordingly & be ready for downside if it breaks lower line, chances are lower for breakdown.
Comment:
On Monthly Chart, Mother Candle strategy can be implemented.
Comment:
Everyone knows there's a breakout here.
But we entered much earlier around 325
Currently standing at 39% gains on 1st buy.
😃
But we entered much earlier around 325
Currently standing at 39% gains on 1st buy.
😃
