vanathi

DivisLab - Inside bar

Long
NSE:DIVISLAB   DIVI'S LABORATORIE
9
Inside bar is a two bar price action strategy. The inside bar is smaller and within the high to low range of the previous bar. Previous bar is referred to as the "mother bar". Inside bar forms at market turning points and acts as reversal when forming at support or resistance level .
In Divislab daily chart price action shows inside bar . RSI indicates momentum is getting stronger.
We can use mother bar's high as entry point. I will update targets and stop loss observing the price action in comment. https://in.tradingview.com/chart/QtD56IkU/
Trade active: Short at the low of the mother bar 748. Inside bar has become continuation pattern.
Comment: On breaking 743 Divislab has the potential to reach 670. Our target is 732
Trade closed: target reached
Comment: Divislab reached the low 671.5 on 1/2517 nearly reached my analysis 670.

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