ACCUMULATION-CHANNEL-BREAKOUT-UPMOVE-VOLUME-PROFILE-1D-1W
Clearly we can see the volume profile and the accumulation regions.
During Mar-Apr-2020, a nice accumulation happened and then a nice momentum of upmove.
1. Now again a consolidation region since Feb-2021 has broken out of 830 price resistance level.
2. Moreover in the recent price action we can see a small upchannel, whose upper-trend line has also been broken.
3. The volume in this consolidation is similar to the previous accumulation, + breakout has given confirmation about the impending up-move.
Target-:
This has been determined which the help of Fib. Extension tools. The origin being the accumulation during Mar-Apr 2020 and current consolidation as the retracement region(other leg of Fib Extension)
Stop-loss-:
Clearly the support of the consolidation region can be used as stop-loss.
RR ratio is good enough and Stop-loss is not that wide.
TATACHEM
**Followers let me know if this post was too short compared to my previous ones. Please suggest if I should add more or if this is sufficient**
**Sorry for the gap and delay in posts**
During Mar-Apr-2020, a nice accumulation happened and then a nice momentum of upmove.
1. Now again a consolidation region since Feb-2021 has broken out of 830 price resistance level.
2. Moreover in the recent price action we can see a small upchannel, whose upper-trend line has also been broken.
3. The volume in this consolidation is similar to the previous accumulation, + breakout has given confirmation about the impending up-move.
Target-:
This has been determined which the help of Fib. Extension tools. The origin being the accumulation during Mar-Apr 2020 and current consolidation as the retracement region(other leg of Fib Extension)
Stop-loss-:
Clearly the support of the consolidation region can be used as stop-loss.
RR ratio is good enough and Stop-loss is not that wide.
TATACHEM
**Followers let me know if this post was too short compared to my previous ones. Please suggest if I should add more or if this is sufficient**
**Sorry for the gap and delay in posts**
Comment:
Will post updates here.