GLENMARK , Diamond pattern formation, About to breakout trendTime frame - 1 D
Chart pattern - Diamond formation.
1. Diamond formation is at bottom of downtrend, signaling trend reversal.
2. Chart has already taken support multiple times around 486 levels.
3. Support is at important fibo level of 0.786 adding more conviction.
4. Now, if breakout is supported with volume the can give target of 615.
5. Risk : Reward ratio- 1:2.5 ; SL - 585 ; Entry - 520-530
#Diamondformation #Patternbreakout
