Potential Consolidation Breakout

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

Dec 08

Trade active: Unitech Ltd. skyrocketed! Waiting for a retracement.

Dec 13

Trade active: Go long in Unitech Ltd.