Long trade in JINDAL SAW - Consolidation Breakout

JINDALSAW

Good consolidation breakout on the hourly chart with heavy volume activity.

Pattern target comes at 105, which is incidentally also the R2 level of the monthly pivots.

A trade here with an SL below the breakout candle low gives a R:R of 1:1.8, which is pretty decent.

Comment:

Good move above R1, with even more volume activity. Strengthens the move.

Trade closed: target reached:

Target reached today!

Another very strong move, so I think I will book half, and hold the rest for further moves with SL now trailing at 101.

Cheers!