SWANENERGY
Hello guys, as the supply zone displayed, it has been noticed that that area has been continuously tested and buyers failed to move the stock price above the resistence level.
The lower trendline has been acting as a demand zone from quite a while and while moving upwards it is forming a narrow wedge like pattern. One can take an entry on a closing of candle on a daily basis above the supply zone/resistence, or when the stock is retesting the supply zone after an upmove.
SL should be kept 2% below the supply zone and trail it on every 5% targets.
Thanks guys and share it as much as possible.
Trade closed: target reached:
Entry made on breakout on closing of a 15 min candle. 10% target was achieved , ones who trail may have enjoyed 20% momentum
