Targt 805 plus
Monthly (not displayed)
Clear formation completed.
Stock has cleared past the upward channel with huge volumes.
Stock has also moved past previous longterm multi line.
Daily (not displayed)
Uptrend with spike observed. However, quite unclear in terms of any pattern formation.
THIS CHART IS A PERFECT EXAMPLE TO ILLUSTRATE THE SIGNFICANCE OF UNDERSTANDING THE BROADER PICTURE USING LONG TERM CHARTS INORDER TO DECIDE ON THE DIRECTION OF THE TRADE. SHORT TERM CHARTS ARE TO BE USED ONLY FOR ENTRY AND NOT TO DECIDE ON DIRECTION.