Chart patterns look apt for a short trade in UBL
REASONS
1. In Monthly time frame, UBL has been trading inside an Ascending channel pattern taking support and resistance at perfect levels till now.(shown below)
2. Right now, it is under its down swing move inside the Ascending channel pattern
3. In Daily timeframe, Bearish Flag pole pattern developing and due for BREAKDOWN!!!(shown below)
4. In 4 hr time frame, it is looking good to enter the trade (STRUGGLING TO MAKE HIGHER HIGH)
5. Entry can also be after a 2hr breakdown out of the flag pattern(pink line)
6. Target(bright green)& strict SL(bright red) levels mentioned as Horizontal dashed lines
Let's wait & watch how it moves!!!!
NOTE- Just sharing my view....not a tip nor advice!!!
Regards,
mmjimm ;-)
REASONS
1. In Monthly time frame, UBL has been trading inside an Ascending channel pattern taking support and resistance at perfect levels till now.(shown below)
2. Right now, it is under its down swing move inside the Ascending channel pattern
3. In Daily timeframe, Bearish Flag pole pattern developing and due for BREAKDOWN!!!(shown below)
4. In 4 hr time frame, it is looking good to enter the trade (STRUGGLING TO MAKE HIGHER HIGH)
5. Entry can also be after a 2hr breakdown out of the flag pattern(pink line)
6. Target(bright green)& strict SL(bright red) levels mentioned as Horizontal dashed lines
Let's wait & watch how it moves!!!!
NOTE- Just sharing my view....not a tip nor advice!!!
Regards,
mmjimm ;-)
Comment:
still inside the range!!!!
Comment:
Made lower low!!!!
Comment:
Day candle Breakdown with extraordinary volume!!!
Trade active:
1st Target done!!!!
Comment:
Comment:
still respecting the level!!!!
Comment:
WEEKLY Bearish Engulfing candle!!!
still our levels intact!!!
still our levels intact!!!
Breakdown!!!! needs to break 1422.65 to form a lower low confirmation!!!