Inverse
Long Trade on HSILVery High Probability Trade because of 4-factor confluence:-
1. RSI Divergence on 1-hr Time Frame
2. Inverse Head and Shoulder on the 1-hr time frame
3. Price is near weekly support level
4. Weekly candles are being formed with long wicks, rejecting a level of 147 (Which is the stop-loss point)
When Trade will be confirmed?
1. Let it break the downtrend trendline
2. Let it close above 50 EMA on the daily frame
Target - 200
Stoploss - 145
Entry - Near 160
Risk Reward - 15:40 = 1:2.7
This is for education purposes only. Thanks
India Cement Possible Inverse Head & Shoulder PatternIndia cement Bounced nicely today from 89 area. Which was the bottom of left shoulder too.
A Retest to 89 area is possible and stock may form right shoulder in this week.
Short term target is 99 which happens to be the neck line and if The Setup play out, Target is 115+.
Watch out for the Inverse Head & shoulder pattern which indicates the bottom for India Cement.