Mcleod Short Setup (Symmetrical Triangle Breakout) Short

MCLEOD RUSSEL INDIA LTD.BSE

Description

⋅ Nov 2, 2016 5:50 AM

It is been observed that the price action firstly broke from a symmetrical triangle on daily chart, indicated bearishness in the price action. Now, the price action breaking new support levels and forming lower lows, again indicating further bearishness ahead.

Target: 160
Stoploss: 175

Trade active

⋅ Nov 2, 2016 9:53 AM

Trade closed: target reached

⋅ Nov 3, 2016 9:33 AM

Target reached successfully. Regards

Comments

SunilDhawan

⋅ Nov 2, 2016 9:59 AM

I think 144 is where this fall should stop. what say

NeeteshJain

⋅ Nov 2, 2016 10:40 AM

It may achieve that target too once it breaks and closes below 160 levels. Regards

tikkuk

⋅ Nov 2, 2016 9:57 AM

Can u explain the symmetrical triangle strategy??

NeeteshJain

⋅ Nov 2, 2016 10:40 AM

I shall be covering it in the next educational post, which I shall be posting on this coming weekend. Regards