BEL - VCP - Getting Ready for the huge upside
Updated
This is for Long Term.
Based on the Volatility Contraction pattern (VCP), the first Cup depth was around 47%, the 2nd Cup depth is around 27%.
I am expecting it to have two more cups with decreasing depths (14% and 7%).
A breakout above 115 with huge volume and the wide candle will ensure the beginning of a big uptrend,
Current Price - 115.75
Entry - Above 123 ( Wide Candle and Huge Volume)
Target 1 -146, Target 2 - 194
All Trades Involves Risk
Please do your own Risk Management.
Based on the Volatility Contraction pattern (VCP), the first Cup depth was around 47%, the 2nd Cup depth is around 27%.
I am expecting it to have two more cups with decreasing depths (14% and 7%).
A breakout above 115 with huge volume and the wide candle will ensure the beginning of a big uptrend,
Current Price - 115.75
Entry - Above 123 ( Wide Candle and Huge Volume)
Target 1 -146, Target 2 - 194
All Trades Involves Risk
Please do your own Risk Management.
Trade active
BEL has tried crossing 123 twice but failed. 123 is an important level.That's the reason the Entry should be above 123 only and that too if the candle is wide with good volume.
Trade active
BEL Moving above 123 after correcting 14% (as expected), with huge volume and wide candles.A good time to enter for a longer time.
Trade closed: target reached
BEL - 146.85. First Target achieved. Closing this trade. It might move much higher. Stay put.
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