NeeteshJain
Long

Wockpharma - Triangle Breakout (Trend Continuation)

BSE:WOCKPHARMA   WOCKHARDT LTD.
It is been observed that the price action is consolidated within a triangle formation on the daily chart and now the price action breaking out from the triangle indicating strong bullishness and buyers dominance over the price action. Buyers shall further take price action higher and continue the trend.

Target 1: 760

Target 2: 780

Stoploss: 720
Trade active: Good Buy at current levels. Regards
Comment: Reaching to Target quickly, Regards
Trade active
Trade active
Hello @NeeteshJain !

This trade stopped out ! Why there is no mention stop loss hit , if the targets achieved are mentioned......
+1 Reply
@pro1988, I understand your point and it did hit to stop loss but never gone too much down as it was at the strong support zone, which I posted the same on twitter. It was not updated here as no asked about the same.

I generally update a new stop loss in case anyone asks or interested in trade setup in order to protect their capital.

The above stock is still trending up and it shall further move upside to 800 levels once it closes above 785 levels.

I appreciate your follow up and feedback on the same,

Regards
Reply
pro1988 NeeteshJain
@NeeteshJain,

Well, if the stop loss is hit we are out of the trade ! right ? so how does the follow up help a trader .....should he take a new entry ?and if yes, what price.....
Reply
@pro1988, Stoploss provides an exit point to protect our capital, it does not guarantee any right or wrong exit. If we feel that the chart pattern is strong and shall work well in future irrespective that the stop loss is been hit, we could change the stop loss as per our risk capacity in order to stay in a good technical trade. This is what happens here, we expected a different chart pattern output but it did not go as per the given chart pattern and it changed. But the changed chart pattern was also positive due to that we did not change our positions as the chart was looking good, hence we changed our stop loss to be in a good trade. Regards
Reply
@pro1988, Here is the link of follow up for your kind reference
https://twitter.com/neeteshjain01/status/844057180017840128

In case, you are stuck in any of the chart pattern that I post then you can ask me and I shall be happy to help you out. Regards
Reply
pro1988 NeeteshJain
@NeeteshJain,

Thanks for the prompt response !

What do u mean by stuck in the chart pattern? ...
Reply
pro1988 NeeteshJain
@NeeteshJain, Awaiting your response ! .....

What do u mean by stuck in the chart pattern ?
Reply
@pro1988, It means when the chart does not provide direction as expected and start consolidating in a range bound price action like this one. Regards
Reply
pro1988 NeeteshJain
@NeeteshJain, Well could u help me in knowing what professional services do you provide !
Reply
pro1988 pro1988
@pro1988, Should I expect an reply onto this ?? I hope I am asking an obvious and valid question
Reply
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