HFCL - Breakout from pennant - Continuation b.o.
The analysis is done on Weekly TF hence price may take few weeks to few months in order to reach the targets. Trade setup is explained in image itself. This is a continuation breakout chart.
When price comes out of such narrow zone on higher timeframe, chances of such breakouts being successful increases manifold.
The above analysis is purely for educational purpose. Traders must do their own study & follow risk management before entering into any trade
Checkout my other ideas to understand how one can earn from stock markets with simple trade setups. Feel Free to comment below this or connect with me for any query or suggestion regarding this stock or Price Action Analysis.
When price comes out of such narrow zone on higher timeframe, chances of such breakouts being successful increases manifold.
The above analysis is purely for educational purpose. Traders must do their own study & follow risk management before entering into any trade
Checkout my other ideas to understand how one can earn from stock markets with simple trade setups. Feel Free to comment below this or connect with me for any query or suggestion regarding this stock or Price Action Analysis.
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