Daily Timeframe Analysis:
Price Action: Sustained bullish momentum with price consolidating near the 2845 resistance (Cup & Handle pattern).
Pattern Confirmation:
Cup Formation (Multi-month): Reflecting accumulation.
Handle Consolidation: Short-term bullish flag pattern near 2845, signaling readiness for breakout.
Volume Trend: Rising volume during upward moves indicates strong buying interest.
EMA Alignment: Price comfortably trades above 20 EMA (dynamic support) and 200 EMA (long-term trend baseline).
Technical Indicators:
RSI (14): Bullish crossover above 60, confirming strengthening upward momentum.
MACD: Bullish signal line crossover.
Support/Resistance:
Key Support: 2655 (swing low, invalidation level).
Breakout Zone: 2845-2880 (critical resistance to watch).
Trade Strategy (Positional):
Entry Trigger: Breakout and close above 2845 with retest confirmation.
Stop Loss: 2655 (below handle’s swing low; protects against false moves).
Targets:
2958 (All-Time High, immediate liquidity zone).
Open Sky Above ATH (structural resistance absent beyond 2958).
Risk-Reward: 1:3+ (favorable asymmetry).
Why This Works?
Pattern Strength: The Cup & Handle is a high-probability bullish continuation pattern. A breakout above 2845 confirms the uptrend resumption.
Indicator Synergy: RSI bullish crossover + price above key EMAs aligns with institutional accumulation.
Volume Validation: Rising volume on upward legs signals conviction.
Risk Management:
Risk 1-2% of capital per trade.
Trail stop loss to breakeven at 2958. Partial profit booking advised at ATH.
Chart Notes:
A close below 2655 invalidates the setup (watch for breakdown signals).
Surge in volume on breakout adds conviction.
Final Take:
TVSMOTOR’s daily chart shows a textbook Cup & Handle pattern, supported by rising volume and bullish momentum. A breakout above 2845 opens the path to retest ATHs, with minimal resistance beyond. Trade the breakout, respect the SL, and ride the trend!
#TVSMOTOR #Breakout #CupAndHandle #TechnicalAnalysis #Bullish
Disclaimer: This is not financial advice. Always conduct your own analysis.
Price Action: Sustained bullish momentum with price consolidating near the 2845 resistance (Cup & Handle pattern).
Pattern Confirmation:
Cup Formation (Multi-month): Reflecting accumulation.
Handle Consolidation: Short-term bullish flag pattern near 2845, signaling readiness for breakout.
Volume Trend: Rising volume during upward moves indicates strong buying interest.
EMA Alignment: Price comfortably trades above 20 EMA (dynamic support) and 200 EMA (long-term trend baseline).
Technical Indicators:
RSI (14): Bullish crossover above 60, confirming strengthening upward momentum.
MACD: Bullish signal line crossover.
Support/Resistance:
Key Support: 2655 (swing low, invalidation level).
Breakout Zone: 2845-2880 (critical resistance to watch).
Trade Strategy (Positional):
Entry Trigger: Breakout and close above 2845 with retest confirmation.
Stop Loss: 2655 (below handle’s swing low; protects against false moves).
Targets:
2958 (All-Time High, immediate liquidity zone).
Open Sky Above ATH (structural resistance absent beyond 2958).
Risk-Reward: 1:3+ (favorable asymmetry).
Why This Works?
Pattern Strength: The Cup & Handle is a high-probability bullish continuation pattern. A breakout above 2845 confirms the uptrend resumption.
Indicator Synergy: RSI bullish crossover + price above key EMAs aligns with institutional accumulation.
Volume Validation: Rising volume on upward legs signals conviction.
Risk Management:
Risk 1-2% of capital per trade.
Trail stop loss to breakeven at 2958. Partial profit booking advised at ATH.
Chart Notes:
A close below 2655 invalidates the setup (watch for breakdown signals).
Surge in volume on breakout adds conviction.
Final Take:
TVSMOTOR’s daily chart shows a textbook Cup & Handle pattern, supported by rising volume and bullish momentum. A breakout above 2845 opens the path to retest ATHs, with minimal resistance beyond. Trade the breakout, respect the SL, and ride the trend!
#TVSMOTOR #Breakout #CupAndHandle #TechnicalAnalysis #Bullish
Disclaimer: This is not financial advice. Always conduct your own analysis.
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Break out happened today with big green candle. Entry Triggered.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.