Chart pattern does pave way for the above titled opinion
Reasons:
1. INDHOTEL has been trading inside an Ascending Channel pattern for the past 2 years, taking support and resistance at perfect levels till now.
2. Currently it is going through the Downswing move(in the form of descending channel pattern forming lower high and lower lows) inside the major ascending channel.
3. Weekly time frame chart below
4. Target & SL levels mentioned @ chart
5. Entry can be made after hourly breakdown out of the white trendline as shown below
Let's wait & watch, how it moves!!!!
Note- Just sharing my view....not a tip nor advice!!!!
Reasons:
1. INDHOTEL has been trading inside an Ascending Channel pattern for the past 2 years, taking support and resistance at perfect levels till now.
2. Currently it is going through the Downswing move(in the form of descending channel pattern forming lower high and lower lows) inside the major ascending channel.
3. Weekly time frame chart below
4. Target & SL levels mentioned @ chart
5. Entry can be made after hourly breakdown out of the white trendline as shown below
Let's wait & watch, how it moves!!!!
Note- Just sharing my view....not a tip nor advice!!!!
Trade active:
1 hr breakdown!!!
Comment:
nice followup!!!
Trade active:
lower low formed....increasing the probability of our trade!!!!
Trade active:
1st Target done!!! gap filled!!!
Comment:
As far as it is inside the channel , it is bearish
Comment:
If it breaks 325 and makes a higher high...better to exit!!!
Comment:
still respecting the levels!!!!
Trade closed manually
Comment:
Take the green 2 year support line as target....
may form the higher low and then shoot upwards!!!!
let's wait and watch!!!
may form the higher low and then shoot upwards!!!!
let's wait and watch!!!
