Swing trade opportunity based on confluence area
Updated
Trade setup
1. Price has met at intersection of Horizontal support and trend line support based on weekly and daily time frame , so both the player will push the market up.
2. All we have to wait is for the minor 2 hour trend line to break its resistance.
3. Energy sector ( CNXENERGY ) is also in uptrend in both weekly and daily time frame.
concept:
1. Channel pattern
2. Minor Trend reversal or Minor Trend line breakout
3. sector based entry
1. Price has met at intersection of Horizontal support and trend line support based on weekly and daily time frame , so both the player will push the market up.
2. All we have to wait is for the minor 2 hour trend line to break its resistance.
3. Energy sector ( CNXENERGY ) is also in uptrend in both weekly and daily time frame.
concept:
1. Channel pattern
2. Minor Trend reversal or Minor Trend line breakout
3. sector based entry
Note
417.85 buysTrade closed manually
sells 453.50
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