BEL | WEDGE | BREAKOUT | BUY | CHART PATTERN
Here is my favorite pattern to enter into a trade, Wedge Breakout & Pullback.
1. Uptrend in BEL
2. Higher lows along the trend line
3. Breakout above the resistance
4. Tested with Pullback
5. Showing Support along the trend line again
BUY
1. Above 186 on the safer side with STOP LOSS of 2 rs
2. For Risk Takers* Accumulate till it gets Support at the trend line with STOP LOSS around 180 to 182
Target
1. Initial Swing Up to 188
2. If continuation of Breakout happens, the next target will be 195
1. Uptrend in BEL
2. Higher lows along the trend line
3. Breakout above the resistance
4. Tested with Pullback
5. Showing Support along the trend line again
BUY
1. Above 186 on the safer side with STOP LOSS of 2 rs
2. For Risk Takers* Accumulate till it gets Support at the trend line with STOP LOSS around 180 to 182
Target
1. Initial Swing Up to 188
2. If continuation of Breakout happens, the next target will be 195
Trade closed: stop reached
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