1. Potential change in MS underway
2. Still in consolidation mode
3. Symmetrical Triangle pattern
4. Flag & Pole formation
5. Early entry will give a better RR ratio
6. Support zone: 262-267
7. Target: 296, 320, 332, 350. Stop loss: 263
You are always advised to use an appropriate Risk-Reward ratio as per your strategy.
P.S: This is NOT investment advice. This chart is meant for learning purposes only. Invest your capital at your own risk.
1. Use the Fibonacci extension to determine various targets
2. Every pattern has a different measurement objective, which you will have to remember. I'll give you a trick, just remember this - "The target is always equal to the depth of the pattern". For example: In the case of the symmetrical triangle, ascending triangle, or descending triangle, the target is always equal to the depth of the triangle.
I'll try to make some threads on this soon!