Moving In Channel.
Taken Support of Channel Bottom & Bounced.
RSI Double Bottom Divergence.
Other Details Mentioned In Chart.
Risk Reward Favourable.
Positional View For Educational Purpose Only.
Please Consult Your Financial Advisor Before Taking Any Decision.
I am not SEBI Registered Financial Advisor.
A clean example of trading double bottom pattern.
Just retested the pattern and going up after breaking out of pattern.
Risk to reward is shown in chart. Try to enter as low as possible
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Technically it looks like Copper is getting ready for long term upside by forming strong consolidations at monthly support. Looks like left shoulder and head is already formed where head is formed by a double bottom pattern which is also bullish.
Once pattern completes and price breaks above the pattern we can see a very strong and clean up trend.
In day time frame Hcl is travelling in channel pattern.. Now as per fib level 1.61 level is showing 1200 and this will be double top..
Then after down trend expected......
Let’s see.....
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