Trend Line Break
Multiple Timeframe Analysis of Ambuja cements1. Stock is in a good up trend
2. Had a healthy retracement and formed bullish candle in monthly time frame
3. Trendline break out in daily time frame
4. Consolidation after trendline break out
5. Head and shoulders pattern inside the consolidation.
MY ENTRY
50% position at the support area
Rest of the position after a breakout of the neck of head and shoulder pattern
"This is not a call, this is just my view on the stock. Please trade sensibly"
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Inverted Head and Shoulder on WTF and Cup and Handle on DTF - LTSome Knowledge about MY patterns here :
1) Cup and Handle :
Appearance: Looks like a cup profile with the handle on the die right
Reversal or consolidation: Short-term (up to 3 months) bullish consolidation
Failure rate: 26%
Failure rate if
waited for a breakout: 10%
Average rise 38%, with most likely rise between 10% and 20%
Throwbacks 74%
Percentage meeting and predicted price target: 49% using full formation height, 73% using half formation height Cups with a higher right lip perform better, 40%
versus 35 % average gain.