RELIANCE | POLE+FLAG CONTINUATION!
Updated
A strong pole & flag formation is seen in Reliance.
A strong pole is characterised by the absence of retracements i.e.., resembling almost a straight line. Stock has consolidated in a flag formation & appears to be testing the resistance with HH, HL formation. Such tests high a high probability of a breakout to occur.
The trade consists of a RR of 1:2. But this is NOT a Trade Recommendation. Please do your own analysis before entering positions.
Thank U:)
A strong pole is characterised by the absence of retracements i.e.., resembling almost a straight line. Stock has consolidated in a flag formation & appears to be testing the resistance with HH, HL formation. Such tests high a high probability of a breakout to occur.
The trade consists of a RR of 1:2. But this is NOT a Trade Recommendation. Please do your own analysis before entering positions.
Thank U:)
Trade closed: stop reached
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