I am expecting it to break down as it has tested the lower resistance many time but the trend is opposite and hence it can be a very risky trade. So follow the rules I have provided in the picture to trade this stock tommorow.
Target : Rs 6 SL : Rs 6 Risk : Reward - 1:1
Please comment if you have any doubts on the analysis.
sir bulish flag pattern he lekin triangle descending he to break down bhi ho skta he i think
Abhishek_TradersSin
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@bjpaladiya, How is it a descending triangle brother , the base is intact and perfect angled. Please let me know if any doubts
pulkitahuja2724
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Just a curious doubt
You wrote one should always wait for a retest after breakout.. but i have studied various charts which give a single way breakout. If we wait for confirmation i.e. to retest, we may miss entry in the trade.!
P.S. : I am a new trader and is learning so you may find this question naive.
Abhishek_TradersSin
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@pulkitahuja2724, that's a valid doubt pulkit as even I have it. So what I suggest is when you see a good momentum candle along with little wicks or none and also the volume has increased then you can enter the trade without any problem. But with stop loss as one can never predict the market