NeeteshJain

Tata Motors - Breaks Out Descending Triangle, Moving Down

Short
BSE:TATAMOTORS   TATA MOTORS LTD
It is been observed that the price action forms a descending triangle on hourly chart, forming lower highs. Now the price action breaks out from the triangle, indicating weakness ahead.

Target: 532
Stoploss: 552
Trade closed: target reached: It was very volatile road, but we made to our targets eventually. Regards

Comments

Right! But the stoploss got in this trade, no?
+1 Reply
Yes, you're right, the stoploss was given as per the pattern and it did invalided the pattern. After that it still showed weakness and continued down trend. I appreciate your observations, Regards
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