RCOM Breaking Downside from Consolidation

Oct 6, 2016

It is been observed that the price action is ranging in a consolidation and moving sideways on hourly chart. Now, it is breaking out from the consolidation and now it shall move further down to the retracement level of 61.8% at 44.25.

Target: 44.25
Stoploss: 47.50
Risk Reward: 1:4

Oct 9, 2016

Trade closed: stop reached

Price levels closed above the stops as Stop reached. Now on a bigger picture it is observed that there is a strong resistance level at 48.15 levels which need to be broken in order to move prices further up. If price level could breach out then it is still possible to achieve the said target of 44.25. Regards

Oct 12, 2016

Note

A Game Changer Candlestick found on Daily Chart,

Will it able to turn around the game again?

Nov 4, 2016

Trade closed: target reached

Today, we achieved the targets, it was a bumpy ride but the price action did come back to fib levels.