Chart pattern insist me the above titled opinion
Reasons
1. BEL is in formation of a Inverted Cup & Handle (Handle in progress)
2. Lower high and Lower low formed (confirming bearishness).
3. Gap b/w 15th & 16th Day candle can act as Strong resistance.
4. Target & SL levels mentioned @ Chart.
5. BEL may take support @ Green trendline (Major Support from 2020).
Let's wait & watch how it moves!!!
Note - Just sharing my view...not a tip nor advice!!!
Reasons
1. BEL is in formation of a Inverted Cup & Handle (Handle in progress)
2. Lower high and Lower low formed (confirming bearishness).
3. Gap b/w 15th & 16th Day candle can act as Strong resistance.
4. Target & SL levels mentioned @ Chart.
5. BEL may take support @ Green trendline (Major Support from 2020).
Let's wait & watch how it moves!!!
Note - Just sharing my view...not a tip nor advice!!!
Comment:
Forgot to mention, fib 0.5 level can act as support!!! thus the target set there!!
Trade active
Trade active:
Given 1 hr Breakdown with volume, out of consolidation as expected!!!
Given 1 hr Breakdown with volume, out of consolidation as expected!!!
Trade active
Trade closed: target reached:
Done!!!
Comment:
Green line channel support!!!! nice jump!!!
