UnknownUnicorn5412484
Long

Tata Motors Long (Continuation ideas)

NSE:TATAMOTORS   TATA MOTORS LTD
This idea is in continuation to previous long idea
Last lower low can become TRY for breakout (high possibility)

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This is one person’s experience, your experience may differ.
Trade closed: target reached: Done in opening..5 min.
Comment: Expecting prices to descend again to lower levels in orderly fashion...if this happens we may find another long opportunity for short term. Original idea is still valid. We may look for trailing stop loss to higher level..depending on market structure.
Comment: Breakout of symmetrical triangle consolidation pattern; and satisfied the level (roughly 3%, same as head and shoulder breakout - as per classical chartist Edwards and Magee). Move Trailing stop loss to 110, last swing low.
Comment: Price consolidation in energy coil, more upside movement in coming days; keep stop loss at 110. we are into a high risk reward trade.

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