praveen.bhatiya
Long

Inverse Head & Shoulder Pattern Formation

NSE:CHENNPETRO   CHENNAI PETRO CP
The stock is forming Inverse Head & Shoulder Patter. Aggressive Trader can take a long now at the strength bar of right Shoulder area with stop loss of recent low. Safe trader can wait for the breakout. I would update the breakout.
Disclaimer : All ideas and comments are my personnel view. Please take financial consultancy for trading decision.
Trade active: Entered at 330 with small SL. Aggressive Entry
Trade closed: stop reached
can we take trade here or shoulder resitant breakout.
Reply
@champ123, Aggressive Trader can enter the trade now with small stop loss however Defensive trader can wait for the neckline breakout and super defensive should wait for a retest after the breakout of neckline :)
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