Chart patterns just impressing me with the title stated above.
Reasons:
(with respect to weekly time frame)
1. Crompton is travelling(and respecting) in expanding triangle pattern.
2. Now, there is bearish flag formation and given breakdown with volume(shown in chart).
3. Breakdown candle is a bullish engulfing candle.
4. Purple line(315 level) can be considered for the target.(as it may turn to be a consolidation zone)
5. If purple line too broken(chances are high), then we can think about the next level target(will update)
6. Safe less risky SL can be Day candle closing above the flag(yellow line).
Let's wait and watch how it moves.
Note - Just Sharing my view....not a tip nor advice!!!
Reasons:
(with respect to weekly time frame)
1. Crompton is travelling(and respecting) in expanding triangle pattern.
2. Now, there is bearish flag formation and given breakdown with volume(shown in chart).
3. Breakdown candle is a bullish engulfing candle.
4. Purple line(315 level) can be considered for the target.(as it may turn to be a consolidation zone)
5. If purple line too broken(chances are high), then we can think about the next level target(will update)
6. Safe less risky SL can be Day candle closing above the flag(yellow line).
Let's wait and watch how it moves.
Note - Just Sharing my view....not a tip nor advice!!!
Trade active
Comment:
good follow ups.
Trade active:
Moving as per levels !
Comment:
Respecting the descending channel in daily time frame...
Trade closed: target reached:
be cautious...it is at the purple line....better to book profit
and then we can enter if it clearly breaks the purple line!!!!(as said above)
and then we can enter if it clearly breaks the purple line!!!!(as said above)
Trade active:
Clear breakdown of the Purple line shown!!!
broke previous swing low....bears getting strong hold!!!
target can be 280
broke previous swing low....bears getting strong hold!!!
target can be 280
Trade active
Comment:
280 done!!!
265 can be next target!!!
265 can be next target!!!
Comment:
What a move!!!
Finishing the pattern....NEARING THE MAJOR SUPPORT 240 RANGE!!!
Finishing the pattern....NEARING THE MAJOR SUPPORT 240 RANGE!!!
Comment:
