BPCL - Reversal formation
BPCL has formed a inverse head & shoulder pattern.
Volumes dried and picked up, as the volumes picked up price didn't move much lower indicating demand.
Today price moved up on high volumes crossing highs last 4 sessions.
This increases chance of a good breakout in coming days.
SL 298-300
On other timeframes.
Weekly : Master/Mother candle
on 30 min Timeframe.
Narrow range just below consolidation
Volumes dried and picked up, as the volumes picked up price didn't move much lower indicating demand.
Today price moved up on high volumes crossing highs last 4 sessions.
This increases chance of a good breakout in coming days.
SL 298-300
On other timeframes.
Weekly : Master/Mother candle
on 30 min Timeframe.
Narrow range just below consolidation
Note
Gaining 1:1 wrt to 308 entry point.Trade closed: target reached
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