Intraday Triangle Breakout on BankNifty

Example of a bullish symmetric triangle breakout on BankNifty as observed on the 15 min charts.

As the price moves between the converging trendlines , the point closest to the tip of the triangle, presents a good entry point to go long. The stop loss for the trade was the previous swing low and the target was the day's high. Giving a good 80-90 point profit, with a risk of only 30 points. 3:1 RR ratio.


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