johntradingwick

NMDC - Ascending triangle + Volume expansion

Long
NSE:NMDC   NMDC LTD
Key Highlights:

1. Bullish market structure - HH, HL
2. Volume expansion
3. Forming Ascending triangle
4. May pullback to the 183-186 zone
5. Target: 198, 213, 224

I have made an illustration on the left-hand side, to explain the ascending triangle pattern.

You are always advised to use an appropriate Risk-Reward ratio as per your strategy.

P.S: This is NOT investment advice. This chart is meant for learning purposes only. Invest your capital at your own risk.

Comments

what the time frame for these near targets?
+1 Reply
@triplag, I think all the targets can be hit within 1-2 months, provided the expected move comes.
Reply
As you said Pullback came
Reply
Thanks a lot for this. How did you get the Targe3 (224)?
Reply
@Faz0786, The targets are based on Fibonacci extension as per the previous swing.
Reply
johntradingwick dkkhandelwal6789
@dkkhandelwal6789, Thank you :)
Reply
ravi3700 johntradingwick
@johntradingwick, it is very useful to beginner like me bro
Reply
@ravi3700, I am glad you found it useful. keep learning. Cheers! :)
Reply
Nareshc72 johntradingwick
@johntradingwick, I am first time in trading view and starting today to learn charts I made a chart of NMDC and found breakout level 196. is this correct?
Reply
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