TWO PROBABLILITIES PART TWO
Here I am sharing the daily chart of National fertilizer it gives a bullish breakout on daily time frame on horizontal resistance with good volume jump in it so what it could do next for us? what I analyze on this chart is that there are two probabilities sharing below
Probability One-: It can god straight to target of 83 levels from current price which is about 9.35% from current price.
Probability Two-: It can retest it's breakout zone 74 levels and after retest it could go to target of same 83 levels which is about 12.16% from retesting zones as we all know that breakout zone will act as a strong support because when price trading above on resistance that resistance zone turned in to support zone according to the support and resistance theory that earlier acted as strong resistance.
So one can check into own setup and act accordingly.
Happy Trading with Trading View ✌🏽✌🏽
BREAKOUT TARGET
IDENTIFIED TARGET
PREVIOUS IDEA
Probability One-: It can god straight to target of 83 levels from current price which is about 9.35% from current price.
Probability Two-: It can retest it's breakout zone 74 levels and after retest it could go to target of same 83 levels which is about 12.16% from retesting zones as we all know that breakout zone will act as a strong support because when price trading above on resistance that resistance zone turned in to support zone according to the support and resistance theory that earlier acted as strong resistance.
So one can check into own setup and act accordingly.
Happy Trading with Trading View ✌🏽✌🏽
BREAKOUT TARGET
IDENTIFIED TARGET
PREVIOUS IDEA
Note
NOT EXECUTED GAPUP OPEN BUT HOLDERS WILL EJOY FOR SURENote
RETESTED 74-75 ZONESTrade closed: target reached
TARGET 83 FULLY ACHIVED
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