GOODYEAR | Daily Chart | Golden ratio pullback
Updated
Chart analysis:
Pattern: Symmetric triangle pattern BO happened and re-testing of BO is happening.
Breakout: BO of 1.5 years trend line and support is taken at 0.618 which is Golden Ratio.
Volume: Volume action is clearly visible near breakout zone.
Trade setup:
Entry price: Close of 1400 price break candle.
Stop loss: Below 1320.
Target 1: 1512.5
Target 2: 1623.8
Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades
Pattern: Symmetric triangle pattern BO happened and re-testing of BO is happening.
Breakout: BO of 1.5 years trend line and support is taken at 0.618 which is Golden Ratio.
Volume: Volume action is clearly visible near breakout zone.
Trade setup:
Entry price: Close of 1400 price break candle.
Stop loss: Below 1320.
Target 1: 1512.5
Target 2: 1623.8
Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades
Trade active
Price closes above on 1-Feb-2024.Trade setup is active now.
Trade setup:
Entry price: Close of 1400 price break candle.
Stop loss: Below 1320
Target 1: 1512.5
Target 2: 1623.8
Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades
Note
Gravestone Doji is formed and stock is still in uptrend.Trade closed: stop reached
Disclaimer
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