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Morning Star

PROTEAN - Bullish Flag, Morning Star, Fibonacci Retracement 38.2In the chart of "PROTEAN," a Bullish Flag pattern has emerged, suggesting a potential continuation of its upward trend. The pattern is characterized by a sharp upward move (pole) followed by a consolidation period (flag), forming a rectangular shape on the chart. The entry point for this pattern is identified above 1466, indicating a breakout from the consolidation phase. A stop-loss is set below 1410 to manage risk in case of a reversal. The target for this trade is set at 2000, aligning with the typical measure rule applied to Bullish Flag patterns, which measures the length of the initial pole added to the breakout point. Further reinforcing the bullish outlook, additional technical signals have been observed: A cluster of patterns, including a morning star candle formation on the hourly timeframe, signaling potential reversal or continuation of the uptrend. The prior pole trend exhibited a 45-degree angle, indicating strong momentum and trend direction. Fibonacci retracement level of 38.2% also supports the bullish bias, suggesting a healthy pullback within the context of an uptrend. Combining these bullish indicators—chart pattern, candlestick formation, trend angle, and Fibonacci retracement—provides a comprehensive technical analysis supporting a favorable risk-reward setup for trading "PROTEAN."
BSE:PROTEAN
by Arvind_Share_Academy
1
Gati Ltd - A Morning Star pattern perfectly formed on support.Swing - 113 to 177 Shallow Pullback - 38.20% retracement level Chart Pattern - Morning Star The price takes support from the level of 150 which is a 38.20% Fibonacci retracement level. This level is considered as a shallow pullback. And the price formed a morning star pattern on this support level. This type of structure indicates the start of an uptrend. 1st Resistance - 160 2nd Resistance - 177 These levels can be considered as targets. Hit the like button!! Show some energy!! Thanks Er. Simranjit Singh Virdi
GLong
by ssvirdi