Inverse Head and Shoulder Century Textile (Short Term Trade)
On 2 hourly chart there is inverse head and shoulder formation neckline is marked as yellow line
The volume during the formation is low, and ATR was also steadily falling
Price found support on the rising trend line (blue line) on 25-80-23
and after that bullish strength started to increase gradually, (increasing volume and ATR)
On the breakout candle , the vol showed a steep rise, along with ATR rise
There is a short term trade
tgt 1105, sl 1025
The volume during the formation is low, and ATR was also steadily falling
Price found support on the rising trend line (blue line) on 25-80-23
and after that bullish strength started to increase gradually, (increasing volume and ATR)
On the breakout candle , the vol showed a steep rise, along with ATR rise
There is a short term trade
tgt 1105, sl 1025
Trade closed: target reached