It is been observed that the price action breaks out from a symmetrical triangle on a daily chart, indicating a strong selling and further weakness ahead. It is important to confirm the breakout with a close below 350 levels.
T1: 325 T2: 310 T3: 300
Stoploss: 370
Trade active
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It did close below 350 levels, now it shall go further down from next week. Regards
Trade closed: target reached
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Trade closed: target reached
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Today, we also achieved Target 3 successfully, Regards
one can even form a triangle by pulling the base line of the traingle to the close of the last candlestick and get 3 touchpoints,so can we say the breakout still has not happened?
NeeteshJain
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@NamantSatiya It could be another valid scenario. Well spotted, Regards
NamantSatiya
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thanks,i'm hoping for a breakout on the upside,what do you think are the chances.(pretty low according to me)
morphousd
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Its not in FNO in that case how do you plan to trade this one
dev_trader
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Valide question. I think it may be on intraday basis short. Just a innocent guess based on understanding i have.
NeeteshJain
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Yes, you're correct. This chart is just for educational purpose only. Regards