VEDL has seen a good day or two of range bound trading. I f VEDL crosses above 229.65 with volume tomorrow il buy for a scalp trade with targets of 231-231.50 and a stop of 228.30. i will trail my stops as and when these levels are reached till RSI turns downwards!
Hello sir. Let me admit firstly that even I am a learner. I do not trade looking at all patterns and hence do not know the exactness of the cup n handle pattern.
I trade only breakouts with volume so mostly the bull flag pattern. But I basically see the price action with volume at the levels where price has previously touched and reversed. . In short. When price breaks resistance levels with volume I buy and if price breaks below support with volume I sell. So I prefer to keep it as simple as this!
So I'm extremely sorry I cannot shed light on your doubts.
Thanks for your analysis-
as a novice i have 2 doubts it would be very helpful of you if you can clarify those for me.
can we call it cup n handle pattern? and how correct is it in downtrend?
thanks for help!
Rgrds