M&M
Trade setup:
Daily TF: Broke out of Pennant formation (continuation pattern) with volumes. Structure changed to LH - LL to HH - HL (bullish). taking support at 200 EMA. 750 INR levels will act as strong support.
Weekly TF: Taking support at 50 EMA.
Entry = 811 INR (CMP)
SL = Swing low ie; 720 INR
Target = 870 INR (t1), 970 INR (t2)
RR = 2.09 (considering T2)
Daily TF: Broke out of Pennant formation (continuation pattern) with volumes. Structure changed to LH - LL to HH - HL (bullish). taking support at 200 EMA. 750 INR levels will act as strong support.
Weekly TF: Taking support at 50 EMA.
Entry = 811 INR (CMP)
SL = Swing low ie; 720 INR
Target = 870 INR (t1), 970 INR (t2)
RR = 2.09 (considering T2)
Trade closed: target reached
13th Oct 21: Boom! Boom! perfect trade. Targets t1 & T2 reached.
Trade closed.
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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.