Hello mates I am sharing the Daily chart of Apollo Tyre is giving few examples for technical analysis and charting like for Breakout, Breakout Retesting, Support & Resistance I am sharing below want to share this publication under Education Flag but as a trader I am looking a good buy opportunity in it so going with Long flag because I can not published an idea into two Flags.
Breakout- As we can see it breaks beautifully a previous resistance and takes a Breakout which I mentioned as Breakout candle and that resistance become it's support as we all know when price sustain above the earlier resistance that resistance turned into support.
Breakout Retesting- As we all can see that after taking a breakout it retest it's breakout zone and after this retest it goes again it's original trend again at that time.
Support & Resistance- As we all know that after breaking a resistance or support the price if sustain above that resistance this resistance become support for the Price and if price sustain below support that support become resistance for the Price
Why I Am Going Long- I take this from the identification of previous trend of it's by this chart that after breaking it's previous top which was it's all time high too of 303 levels it went to the new Top of 339 levels and it is a difference of 11% between pervious to new top so if this time it break and close the it's current top of 339 levels I am expecting 11% move again and that is mine target of 377 levels after the breakout will happen again I will go long in this.. In this case I will take a stop loss below close of current breakout on daily chart.
That is all friends hope you like the post Thanks and Happy Trading with Trading View✌🏽
NOTE-: This is not and trade or investment advice. This idea is meant for learning only. Invest your capital at your own risk
Breakout- As we can see it breaks beautifully a previous resistance and takes a Breakout which I mentioned as Breakout candle and that resistance become it's support as we all know when price sustain above the earlier resistance that resistance turned into support.
Breakout Retesting- As we all can see that after taking a breakout it retest it's breakout zone and after this retest it goes again it's original trend again at that time.
Support & Resistance- As we all know that after breaking a resistance or support the price if sustain above that resistance this resistance become support for the Price and if price sustain below support that support become resistance for the Price
Why I Am Going Long- I take this from the identification of previous trend of it's by this chart that after breaking it's previous top which was it's all time high too of 303 levels it went to the new Top of 339 levels and it is a difference of 11% between pervious to new top so if this time it break and close the it's current top of 339 levels I am expecting 11% move again and that is mine target of 377 levels after the breakout will happen again I will go long in this.. In this case I will take a stop loss below close of current breakout on daily chart.
That is all friends hope you like the post Thanks and Happy Trading with Trading View✌🏽
NOTE-: This is not and trade or investment advice. This idea is meant for learning only. Invest your capital at your own risk
Trade active
Comment:
KEEP TRACKING
Comment:
Comment:
NICE MOVE
Comment:
PROFIT BOOKINGS FROM TOP BUT STILL IT IS GOOD
Comment:
MOST LIKED STOCKS WHICH CAN PERFOM IN RED MARKET
Comment:
NEW 52 WEEK (ATH) NEAR TARGET
Trade closed: target reached:
REACHED EXACT MEASURED TARGET OF 377 TODAY, VERY HAPPY TO SEE THAT IT IS NOT ABLE TO CROSS 377 LEVELS, TRADE WAS ACTIVATED ON 2ND MAY TODAY DID TARGET, TRADE NOW CLOSED
BY RECENT VIEW