praveen.bhatiya
Short

Short Roof Pattern India Cements

NSE:INDIACEM   INDIA CEMENTS
The stock has formed a beautiful Roof Pattern it gave false breakout today and came back. One can trade the stock by providing small Stop Loss high of today and look for a target of 140. Risk to reward ratio works out decent.
Order cancelled: Since it is not coming below the pattern I would not consider it valid pattern now and look for somewhere else.
Praveenji, the first candle which is a long green candle and more than 50% of its body is below the horizontal base line of the triangle.Then how can we draw the horizontal line bisecting the candle? Is this
deviation is within the limits of the Roof Pattern?
Reply
praveen.bhatiya drchandramohankk
@drchandramohankk, Dear Dr Chandra to draw any line we need 2 points. I've marked the point and extended the lines on both sides that is the base. To trade this pattern one should short when it closes below the baseline which has not happened yet. I am betting more on a false breakout at this point. Thanks for your keen observation and interest.

Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Get Help Ideas Published Followers Following Private Messages Chat Sign Out