Powergrid 1.48% is at few month old resistance, and broke out of downward sloping trend line which wasn't a great signal though. But it broke out with the confirmation of Gartley Pattern .
Price has kind of retested the support and it is now signalling upward move.
If we zoom into 15 min chart we'll see that price may come down to retest the support again and that would even be a more better place to get in.
For now, on the hourly chart we can see the series of Indecision candles, A break above them, will be a good signal to buy and break below them will signal us to wait, but even if we don't wait and get in right now, we have a good Reward to risk Ratio.
Sl: Below 186.4
Target 1: 191.4
Target 2: 192.5
Price has kind of retested the support and it is now signalling upward move.
If we zoom into 15 min chart we'll see that price may come down to retest the support again and that would even be a more better place to get in.
For now, on the hourly chart we can see the series of Indecision candles, A break above them, will be a good signal to buy and break below them will signal us to wait, but even if we don't wait and get in right now, we have a good Reward to risk Ratio.
Sl: Below 186.4
Target 1: 191.4
Target 2: 192.5
Comment:
ahaaaannn... :)
Comment:
First target reached. Cheers
Comment:
Close half position and leave the rest to run
Trade closed: target reached