WELCORP - Cup and Handle with VCP

Mar 11

WELCORP

• Price above all major EMA/s
• Price is contracting
• Cup and Handle formation
• Failed breakout attempted.

1 hr Chart as below where we can see Liquidity Sweep leads to false break out attempt with high volume. Then price falling slowly means retailers were trapped with breakout. Volume is also drying up which give addition indications.


Caution: Trading it without knowledge depth of VCP and proper risk management may be harmful.

I am not a registered analyst, here I am only sharing my view to trading communities. Many time my setups were failed. Do consult your financial advisor prior any trade.

Mar 18

Trade active

Now it looks like entered in final lag of VCP. Keep your sharp eyes on it.

Apr 9

Note

Reaping the fruits of patience and self confidence
Trailing SL and holding with convictions

Apr 18

Note

Shifted SL to 950 to safeguard profit and keep it risk free.

Jun 11

Note

Shifted SL to 1250 to safe guard healthy profit. Now risking only some part of profit.