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Neckline

Rounding bottom breakout pattern Learning. Educational purposeThis is a chart of indiamart, here i am sharing to learn some logics of rounding bottom along with reasons, targets and stop loss. Here price has formed rounding bottom, and now it has given breakout along with good intensity of volume at same breakout candle, with supporting views by rsi above 60 at breakout, along with macd running positive crossover and now above zero line. if price retest the neckline of rounding bottom and rises again then probabilities of win are increased. here stop loss should be bottom of rounding pattern and targets should be double of total depth of rounding bottom to neckline, so our risk rewards ratio would be at least 1:2 price challenging upper bollinger band supporting indicators Disclaimer I am not sebi registered analyst My studies are for educational purpose only Consult your financial advisor before trading or investing
NSE:INDIAMARTEducation
by RK_Chaarts
ShortPositional Short Entry: 32 (aggressive) : Wait for breakout of neckline and wait for successful retest of neckline (Conservative) Target 1: 30.20 (aligned with Fib 0.382 retracment) Target 2: 25 (not aligned with Fib 0.618 retracment, Fib 0.618 retracment is 23.25) Risky trader can target for 23.35. SL 37 (on closing basis) Disclaimer: The recommendations are based on technical analysis and subject to market conditions. Please trade at your own risks. The author is not responsible for any loss.
TShort
by pav_technicals
1