Tata Motors. Weekly Pole and Flag pattern. Bullish Pattern
Consolidation in TataMotors Scrip since March 2024.
2 Tradeable Scenarios are possible here.
Scenario 1: Another correction to the lower end of the flag and then a bottoming out and eventual break out of the upper end of flag.
Scenario 2: Breakout and Consolidation/Retest of the upper end of the flag and continuation upwards.
In any case, technically, it looks like a good consolidation. As the scrip's price moves, I will keep updating here.
#only for educational purposes - on how to keep track of long term patterns, and how to enter trade in such scrips and patterns.
2 Tradeable Scenarios are possible here.
Scenario 1: Another correction to the lower end of the flag and then a bottoming out and eventual break out of the upper end of flag.
Scenario 2: Breakout and Consolidation/Retest of the upper end of the flag and continuation upwards.
In any case, technically, it looks like a good consolidation. As the scrip's price moves, I will keep updating here.
#only for educational purposes - on how to keep track of long term patterns, and how to enter trade in such scrips and patterns.
Note
25/07/2024 10:30 am. Price action breakout on hourly chart.
Entering trade @ 1060. Stop loss @ 960
Note
Update 06/08/2024 1:45 pm.
Exiting trade, stop loss has not been activated but the bearish sentiment seems strong, taking a smaller loss than stop loss and waiting. A small pullback is possible but doesnt seem worth it to me.
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