CRASSHHHHHH!!!!!! when everyone was shouting this, we were waiting for this trendline to hold and guess what guys, it did. SHAKE OFF looks like this but to be safe we will still wait for the follow up candle and start buying shares. SAFE TRADING!!!
Never buy before 3PM (for positional trading). I have been burnt many times over. Try to buy between 3:15 - 3:30PM, later the better.
SL: Depending on your risk appetite: Below Weekly BO Candle / Below Daily BO Candle / 50% of Weekly BO candle / Below 20DMA
TGT: After a 10-15%+ vertical move, breakdown of 20DMA (on a daily close basis)
11 week base - cup and handle
shakeout in the middle of base on weekly chart.
it changed character to bullish after breaking upper trendline.
then it gave pocket pivot on 20/11/20 off 50 MA which was also low cheat entry.
now it again gave continuation pocket pivot off 10 MA showing sign of strength.
Looking at 600 min and then even further
Breakout post shakeout is very powerful, this one had two (highlighted in the image). Shakeout is when price falls, comes back up and closes almost equal or minutely in red in a week or one day. The Stock Broke out post that within 4 to 8 weeks ( which is important otherwise the stock is not in a strong uptrend) breaking all resistance on heavy volume.