1) On 1 HOUR time frame it has breakout 164 level and then it has tested if for support and it got support from 164 and gave good upmove.
Please refer below chart : 1 hr time frame.
2) On Daily Time frame you can see that it has now reverse from the critical support range and made bullish...
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1. Bullish market structure
2. Trendline breakout
3. Triangle breakout
4. Volume expansion
5. Accumulate till 215
6. Target: 233, 249, 265
7. Stop loss: 210
You are always advised to use an appropriate Risk-Reward ratio as per your strategy.
P.S: This is NOT investment advice. This chart is meant for learning purposes only. Invest your...
RBL bank has formed Ascending triangle pattern which is Neutral price action pattern that means trader needs to be ready to take position on either side depending upon the breakout or breakdown. Trade safe. Look for both setup.
Keep this on the watch list.
Trading is all about probability nothing is for sure in this business so always keep your chances high
If you manage your loss, you eventually will be the winner sooner or later.
Castles never made within a day.
Monthly RSI entering 50 is supposed to be strong. It can give us a multibagger over a period of 1 year or so.
Enter once RSI sustains over 50.
Exit upon RSI reaching 80 on monthly charts only.
5 March 2021
CMP - 242.35
Target - at least 100% in 1-2 years!
Stop Loss - Rs.205/-
RSI above 50 is not my strategy. Video Link in Related Ideas at bottom.
I am taking...