3 VCP
Retest
Breakout
Simple as that.
Retest
Breakout
Simple as that.
Trade closed: stop reached:
Technically the stop loss could have been below the channel border because so far the pattern hasn't been spoilt. As we can see the low of the day was a strong resistance turned support 1600.
My stop loss got triggered at 1714. Reason is - ideally it was a good breakout so the stock shouldn't have come down. However, it fell because of Maharashtra fear and may be Iran US tensions. These falls are beyond technical analysis, so to protect the funds earlier I suggested a higher stop loss.
The stock is good and will move up as the market settles down after the panic.
My stop loss got triggered at 1714. Reason is - ideally it was a good breakout so the stock shouldn't have come down. However, it fell because of Maharashtra fear and may be Iran US tensions. These falls are beyond technical analysis, so to protect the funds earlier I suggested a higher stop loss.
The stock is good and will move up as the market settles down after the panic.
*DISCLAIMER*
For educational purposes only. Not a recommendation.
Treat StopLoss as your best friend to get you out of troubles.
For educational purposes only. Not a recommendation.
Treat StopLoss as your best friend to get you out of troubles.
