TATA STEEL gives another opportunity to missed traders with a beautiful low volume pullback to its breakout point.
The first breakout was given on high volume and stop loss has still not been hit. Stock gives traders another chance to enter
long with a good risk to reward of 1:2.
This pullback seems to be a normal one and no need for more selling to take place, wait for a bullish engulfing or the high of the recent red candle to be taken out for a long trade.
Note: More aggressive traders could try entering as soon as the market opens to get an even better entry price.
Keep It Simple
The first breakout was given on high volume and stop loss has still not been hit. Stock gives traders another chance to enter
long with a good risk to reward of 1:2.
This pullback seems to be a normal one and no need for more selling to take place, wait for a bullish engulfing or the high of the recent red candle to be taken out for a long trade.
Note: More aggressive traders could try entering as soon as the market opens to get an even better entry price.
Keep It Simple