Trading parallel channel breakouts.NSE:BAJAJ_AUTO
Simple guide on how to trade breakouts from ( parallel channel ) trading range.
This example illustrates how the parallel channel breakout ideally works out. Please try and spot stocks and index that are currently either trading in a range or about to breakout for trading opportunities, Keep plotting, keep learning and trade with confidence.
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BIRLASOFT || Uptrend Support + Support Zone || 10% move expected1. We started with Daily chart to find the bias (buy/sell) & we found it is an uptrend move with price at trendline.
2. We changed to 4H and 2H chart frame to check any king of buyer's entry or green candle forming. (Able to spot 2 green candles)
3. We changed back to Hourly and later 30 Min chart to mark the key zones in short-term basis.
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The company is fundamentally strong and hence a long position will be a good side.
Even though I feel that the trend line will break but the charts are showing me a different picture. Hence one should always trade what they see and not what they feel.
No matter if this trade will be a positive or not , I promise to keep my loss small & profit trailing or running till the time I can.
Thanks! Don't forget to hit that like button and comment your doubts.
Stock might head higher towards 1120/1140NSE:LUPIN
As long as the stock trades above 1050 it can head higher towards 1120/1140 in coming days.
It has given a breakout of inverted head & shoulder pattern and has now come to re-test the structure making it an ideal time for entry with good RR
All ideas shared are for educational purposes.
WHIRLPOOL Retest tradeNSE:WHIRLPOOL Levels already mentioned.. Look for Intraday to Positional..
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Note:
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