How to Calculate the Probability of a setup?
If a chart is showing 2 or more patterns favoring a view then we can say it is a high probability setup. More the signals in 1 direction, More the conviction to go long or short on the trade.
Britannia has been in a 100 points range, building momentum for a while.
Stock is ready to give a breakout on the downside.
It has filled all the space that it could in a somewhat descending triangle pattern.
The stock has to travel to the lower channel next.
The Black Trend Line which is aligned with the 200 EMA will act as a support and let the stock breathe for a moment before heading down again.
Once the trade is active our Stop Loss will be the upper channel (Red Line) & the target will be the lower channel (In profit booking phases).
Till then,
Stay Safe & Trade Safely.
If a chart is showing 2 or more patterns favoring a view then we can say it is a high probability setup. More the signals in 1 direction, More the conviction to go long or short on the trade.
Britannia has been in a 100 points range, building momentum for a while.
Stock is ready to give a breakout on the downside.
It has filled all the space that it could in a somewhat descending triangle pattern.
The stock has to travel to the lower channel next.
The Black Trend Line which is aligned with the 200 EMA will act as a support and let the stock breathe for a moment before heading down again.
Once the trade is active our Stop Loss will be the upper channel (Red Line) & the target will be the lower channel (In profit booking phases).
Till then,
Stay Safe & Trade Safely.
