Unitech Ltd. is in a consolidation for a long time now. A triangle pattern called 'Descending Triangle Pattern' is forming on the 4 Hour time frame. Although, the text book definition of a 'Descending Triangle Pattern' is that the price usually break to the downside, however, that's not always the case.
Also, the RSI shows divergence + there is also an ongoing 'Flag Setup'. I will link my 'Flag Setup' idea below.
We'll wait for the breakout from the pattern and decide what our Target and Stop Loss should be.
Do tell me what you think.
Sincerely,
Dpk.Htkr
Also, the RSI shows divergence + there is also an ongoing 'Flag Setup'. I will link my 'Flag Setup' idea below.
We'll wait for the breakout from the pattern and decide what our Target and Stop Loss should be.
Do tell me what you think.
Sincerely,
Dpk.Htkr
Trade active:
Unitech Ltd. skyrocketed! Waiting for a retracement.
Trade active:
Go long in Unitech Ltd.
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funtush007
Good one
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Dpk.Htkr
funtush007
@funtush007, Thank you!
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Dpk.Htkr
Dpk.Htkr
@Dpk.Htkr, I clearly missed this Bullish Cypher Pattern. It gave us a second chance to get filled but I couldn't spot it!
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