HDFC bank Inverse H&S formation
Hello traders, I hope you are doing well
The setup that I can find in hdfcbank is clearly explained above in the chart.
Specific details for the chart explanation
The inverse head and shoulder pattern has not yet been completed.
The breakout also requires to break the supply zone near 1500 levels.
Stock has retraced back to 78.6% from the last swing high.
Stock gave a breakout of a steep declining trendline of 40 degree angle
200 ma acting as support.
Please LIKE, COMMENT and SHARE to motivate and support me. I'll keep on posting new ideas on Indices & Stocks. Be sure to follow so that you don't miss any good trades that might have been rewarding.
Any comments and critiques will be appreciated even if it's of opposite view as a trader can also be right so many times.
The setup that I can find in hdfcbank is clearly explained above in the chart.
Specific details for the chart explanation
The inverse head and shoulder pattern has not yet been completed.
The breakout also requires to break the supply zone near 1500 levels.
Stock has retraced back to 78.6% from the last swing high.
Stock gave a breakout of a steep declining trendline of 40 degree angle
200 ma acting as support.
Please LIKE, COMMENT and SHARE to motivate and support me. I'll keep on posting new ideas on Indices & Stocks. Be sure to follow so that you don't miss any good trades that might have been rewarding.
Any comments and critiques will be appreciated even if it's of opposite view as a trader can also be right so many times.
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