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.
Good Analysis bro. Your observation also give good return. We always support you and like you idea and give comments, but it doesn't mean when you become a little famous in this community then ask for the paid Telegram channels like others for example the Trade The Tips account. Our traders intention should be only making money from our trading platform and do something for benefits of this community and not make use this community for our personnel purposes.
varadtambolkar
⋅
@Faayez, Sirji, I'm only active on Tradingview. My goal is to help identify set ups to new comers and retailers so that they can learn and earn.i belive trading cannot be taught but only way of thinking can be shown.
I've friends who give tips and arrange seminars.
They say that they have gone through mental ups and down and have suffered huge losses to reached there. So i somewhat agree with them beacuse they've taken efforts to reach there. So rewarding and respecting those efforts is correct.
Unfortunately there are more scammers who charges money and fool retailers. Very few are genuine.
Faayez
⋅
@varadtambolkar, I know your only active in Trading View and I really respect you from my bottom of my heart and appreciate your ideas. I also respect those people who they put so many effort to reach that level of wisdom in stock market, but their purpose should be only delivery of paid genuine knowledge and experience to the new comer in the stock market that they can stand on their own feet not giving tips through telegram channel and make foul and keep them blind because of their own benefits.
varadtambolkar
⋅
@Faayez, Yes perfect, relying tips is dangerous. who knows how much long will tip guy will provide tips.
S1OS6A18
⋅
amazing analysis in sync with sectoral trends which could be playing out.
varadtambolkar
⋅
@S1OS6A18, yes i found the sectors first then the checked individual stocks.