Pattern failures are more profitable than regular trading patterns. One of the phenomenon can be seen on CHOLAFINANCE chart. A Head and shoulder pattern formation followed by a breakout of the neckline. But the prices immediately came back above the neckline & holding it successfully. This can be taken as pattern failure for H&S formation. One should go long with...
The stock has respected the trendline support
Two possibilities
1.Breakdown from the trendline and downtrend continues
2.can take support at the trendline and move upside.
Always wait for the breakout and trade & wait for the candle to close
Disclaimer: Please consult your financial advisor,
Investment/Trading in the securities market is subject to market...
Reason :
1.Global crisis
2. Nifty looking weak
3.Possible for a pattern failure
4.fakeout
5.Avoid taking long for this month(index looking weak )
6.Maybe breakout possible stick with your stop loss(if the breakout happens to wait for a retest is a smart decision)
Disclaimer: Please consult your financial advisor,
Investment/Trading in the securities market is...
