PETRONET Weekly - Convincing breakout?PETRONET Weekly - Convincing breakout?
Last week was a huge bullish candle.
Find levels on chart
PETRONET
SHORT SWING TRADE IN PETRONETSHORT SWING TRADE IN PETRONET
AUGUST FUTURES
SHORT@230
STOP@233
TARGET@223.5
LOT:3000
QTY:!
Long Trend line on Petronet LNG - Make or Break ? Long Trend line on Petronet LNG and whether it will Make or Break ?
Trade Levels are mentioned on Chart.
Descending Triangle on PetronetLNGDescending Triangle pattern formation on petronet. According to Descending Triangle will break only on one side which is on downside. It should not break on another side (upside) but if does, it will consider as False Breakout. In Descending or Ascending triangle, some of the times false breakout may happen so need to wait until the price to break.
Trade:
Short below - 423.75
Target 1 - 414.75
Target 2 - 406.50
Stop Loss - 430.75
Note : Don't trade until the price to break the triangle.
PetroNet : Fueling it Up...Let's fill in our tanks and make ourselves ready for upside Breakout in Petronet. Actually I'm not interested in the downside Breakout, if you zoomout n see there can be shark pattern formation, haven't checked it though by drawing just saying by the perception I get from Petronet. You can try for that shark also if interested but simple channel upside break can be good n better :)
Petronet longGo long after breakout with high volume and MACD crossover.
Target is height of the range.
Targets and SL in chart.
Short Term Cup and Handle Break outIt has been observed in daily chart cup and Handle break Out watch near 410/420 for Target 490+ stop loss 400.
HnS Breakout in PetronetHnS breakout in Hourly chart within a bigger triangle. Should target 405 going forward.
Petronet Showing Weakness (Descending Triangle)It is been observed on the daily chart that the price action is forming a descending triangle indicating selling pressure by the big players. It shall further move down. Regards
Target 1: 370
Target 2: 360
Stoploss: 385
Petronet - Ranging in Downward Trend Channel (Short)On hourly chart, the price action is trending in a downward trend channel as it is making lower Lows (LL) and Lower Highs (LH) indicating weakness and bearishness.
Refer to educational series on Channels to understand it better. (Links provided below)
Target: 317.50
Stoploss: 340
Petronet Breaks Out from Symmetrical TriangleAfter a long consolidation, it breaks out from the symmetrical triangle by large green candlestick along with good volume.
Petronet Confirmed Upside Breakout (Intraday Buy)Breakout from Symmetrical Triangle with High Volume
Expected Target: 323 Sl 314
Petronet About to Breakout from Symmetrical Triangle It is been observed in the price action of petronet that after a steady rally, it consolidates in symmetrical triangle formation where there is buyers and sellers indecision with price actions. On the previous symmetrical the buyers took control and we got an upside breakout with high volume and it rallied well to 340 levels.
Now, the price action has come again in range bound situation in a symmetrical triangle where buyers and sellers fighting for control of prices. It will be interesting to watch a breakout on Monday with big volumes on either side. Let see which takes the control, buyers or sellers??
Comment below what your opinion on it and whom do you think will take control over prices on Monday?
Regards
Petronet - Symmetrical Triangle Formation (Close to Breakout)After a big breakout from 300 levels, it is been consolidating for a while and now it seems like a symmetrical triangle and it is high likely to breakout downside as it may retest 300 levels to confirm a new support. Looking forward for tomorrow's price action.
Target (If go down): 300 SL 312
Target (if go up): 318 SL 308
