I'm not sure why, we are getting back to back breakout trades today morning, sharing few of those with you. Yet to check Nifty
chart, may be we will have breakout there also.We can see from chart how long M_M
is within that rectangular range and looking for breakout. It will be positional trade, so breakout also takes time if M_M
moves to upside on pullback.We can't confirm solely based on RSI
also, so wait for breakout in M_M
. Some may consider it as bullish flag
( I do agree) but naming it rectangular pattern does no harm. Name isn't important, just the breakout side is important for us !
Hit Like button to keep me motivated to post more ideas...Thanks for your support !
Happy Trading !!