Breakout has been detected on in my filter system with volume supporting the break through but needs a confirmation if the script closes above the resistance line drawn and the opening of the candlestick after that has to be above the new support line (previous resistance i.e blue line). The trending line is drawn according to the weekly chart which is the most reliable time frame after monthly time frame.
Details will be updated after properly studying the pattern and the Directional movement of the candlestick.
Details will be updated after properly studying the pattern and the Directional movement of the candlestick.
Trade active:
This is what precision looks like when you look at the reliable time frame. The script reversed from the exact same point where the resistance line is drawn. For bull run the script has to close above the resistance line and opening of future candlestick is above the new support line( old resistance line).
Comment:
There's 15min buying witnessed on this script . To break this resistance the candlestick has to break and close above the blue line. For averse trader, you can wait to get to the position. I'll update more details soon
Comment:
Here's the breakout traders for you. The target is now shifted to 755 which is approximately 100 pts away. averse traders can wait for tomorrows opening because we might witness a retest before going for 755. Do apply requisite SL and have a proper capital management strategy to avoid any uncertainty.