Entry: above 104.1
SL: low of BO candle
● Pattern: High tight flag
● EMA's : EMA 10 > EMA 21 > EMA 50 > EMA 150 > EMA 200.
● Good up move of 35%
● Price again getting tighter along EMA10 & 20
● Dry volumes in flag
Entry: above 1010
SL: weakness below 950
Setup Invalid : If price goes below 950
● High Tight Flag
● EMA's : EMA 10 > EMA 21 > EMA 50 > EMA 150 > EMA 200.
● Price forming tight candles after up move
- Momentum Trade
- Volatility Contraction Pattern
- Breakout trade
Coming out of a large base and outperforming the market, Pricol formed a base again when the overall market was in correction, now breaking out of the range, can give a big upmove here but need to take care og the position size as SL will have to be deep
AB is a Range confirmed by pivots 'CDEF'.
As HTF bias is to the upside the price is likely to break the range resistance and continue to move up.
Green line: represents rejection or unacceptance of break of range boundaries
Orange line: represents acceptance of break of range boundaries
Trades can be taken one the pullbacks.
