Head & Shoulders Trade | KOTARISUG
Kotarisug after multiple rejections, has been broken out of a neckline resistance with good volumes. With a solid base, chances of a successful breakout & follow-up increases.
Points to note before initiating Long:
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1. An inverse H&S base with multiple touches to the neckline, respecting that resistance.
2. Volume pick up near the Right Shoulder, after a period of inactivity : big buyers incoming
3. A breakout of the neckline with good volumes.
Considering these points, long trade initiated as follows:
Entry CMP - 41.9
SL 38.75
Targets of 49.8 (Pattern Height)
Disclaimer: Always trade with proper money management & analysis. Always enter SL first.
Points to note before initiating Long:
-----------------------------------------------
1. An inverse H&S base with multiple touches to the neckline, respecting that resistance.
2. Volume pick up near the Right Shoulder, after a period of inactivity : big buyers incoming
3. A breakout of the neckline with good volumes.
Considering these points, long trade initiated as follows:
Entry CMP - 41.9
SL 38.75
Targets of 49.8 (Pattern Height)
Disclaimer: Always trade with proper money management & analysis. Always enter SL first.
Trade closed: target reached
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.