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varadtambolkar
Jan 8, 2021 2:40 AM

BPCL Huge breakout possible in coming days. Long

BHARAT PETROL CORPNSE

Description

All logic explained on chart.

check link to previous BPCL daily chart.

Comment

Yeollow marked zone is 2014-15 supports

Comment



There can be a attempt to fill this gap

Comment

Upper wick today on weekly bar.

Stay cautious, more confidence when crosses this weeks high.
Comments
sckeshari344
Looks good.
What SL would you suggest ?
varadtambolkar
@sckeshari344, around 335
thewealthcreator94
@varadtambolkar, risk reward ratio is not even 1:2
varadtambolkar
@thewealthcreator94, i played safely because there are Many people who keel sl in system and they are kicked out in Wick

I follow strictly weekly close levels.it comes out to 350 min.

Qty to be bought is max 1/3 or 1/2. As breakouts can fail 100% qty cna give you big loss. When it breaks out ads rest of the qty and bring overall stoploss below breakout candle keep margin of 3 to 5% form low. Then you will get good RR or you stop loss can come near tl entery price.

I've seen people wait for breakout wait for restest and then enter. Even if they palce sl below previous swing low RR is very low. This is. breakout Trade risk is high so is the reward.

😀
Gangaram0719
@sckeshari344, SL 377, otherwise 359
TG1- 465, TG2- 510
varadtambolkar
@Gangaram0719, 👍🏾
guptagaurav825
@Gangaram0719, what is the expected time?
Gangaram0719
@guptagaurav825, It's a weekly chart. You have to wait for at least 2 to 3 months. Else book your desired profits on short term basis on daily timeframe.
varadtambolkar
@Gangaram0719, perfect 👍🏾
Gangaram0719
@varadtambolkar, thanks, im learning & practicing :-)
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