BREAKOUT RETEST
Hello mates many regards to all of you,
I want to share a simple breakout retest example by the daily chart of Berger paints which is looking it is almost completed it recent breakout retest levels because what we can see is earlier there was a resistance which for I made a trendline for identifying previous resistance which was broken by the stock and had given a nice breakout now we can see after profit bookings and or cool down process the stock comes to same place from where it had given breakout now acting as good support zones and trying to bounce from there so that we can say it is a perfect example of breakout retesting process it is not compulsory that each and every time we can see that every breakout or breakout retesting is done with 100% surety for taking a successful trade but to understand something an example is needed and according to me this is a good example of BREAKOUT RETEST, suggestions, improvements and rectification by senior mates and from anyone are most welcome..
I want to share a simple breakout retest example by the daily chart of Berger paints which is looking it is almost completed it recent breakout retest levels because what we can see is earlier there was a resistance which for I made a trendline for identifying previous resistance which was broken by the stock and had given a nice breakout now we can see after profit bookings and or cool down process the stock comes to same place from where it had given breakout now acting as good support zones and trying to bounce from there so that we can say it is a perfect example of breakout retesting process it is not compulsory that each and every time we can see that every breakout or breakout retesting is done with 100% surety for taking a successful trade but to understand something an example is needed and according to me this is a good example of BREAKOUT RETEST, suggestions, improvements and rectification by senior mates and from anyone are most welcome..
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