Another consolidation for the stock before triangle b/o
This post is in continuation to the earlier trade in same scrip which we managed to observe from 620 to 880 in few session. The stock has since retraced to lower level. The link to that idea is added at the bottom.
Here without considering the upper shadow of the candle the triangle breakout could give you a possible target of 800+160 =960 based on length of the 2 big candles. IF the upper shadows are included then target would be 880+240=1120, which is a best case scenario here. Here the sl would be if the lower levels (640) are broken on weekly closing basis.
Disclaimer : The above post is just for educational purpose and purely on understanding of technical analysis. It is not a recommendation and one may do their own due diligence before initiating a trade.
Here without considering the upper shadow of the candle the triangle breakout could give you a possible target of 800+160 =960 based on length of the 2 big candles. IF the upper shadows are included then target would be 880+240=1120, which is a best case scenario here. Here the sl would be if the lower levels (640) are broken on weekly closing basis.
Disclaimer : The above post is just for educational purpose and purely on understanding of technical analysis. It is not a recommendation and one may do their own due diligence before initiating a trade.
Trade closed manually:
Exit is needed here as stock making lower low everyday with volume dried up. Will repost when price action is active again
