srikartiram

BHARTIARTL | Triangle breakout and retesting

Long
NSE:BHARTIARTL   BHARTI AIRTEL LTD
BHARTIARTL | Triangle breakout and retesting

CMP : 612
SL : 575
Target : 690, 720

1:3+ risk reward setup
Trade closed: target reached

Comments

Thank you!
100 coins
+1 Reply
@vijaykp, Welcome :)
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Can you help me understand how you decided to have the target positions at 690/720, as we don't have any support or resistance level over there?
+2 Reply
@tomjm1, Good question, i apologies for not mentioning about it.

I'm just a price action trader, at times i use Fibonocci for finding near by targets. Its kind of Cup & Handle pattern too.

If you connect swing high (610) and swing low (400) with fibonocci - you will get 720-740 as a target (Fib 1.61)
If you connect the handle swing high (610) and swing low (510) you will get 690 as target (Fib 1.61)
+5 Reply
Sir retesting not happening with 45 degree
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