SAIL trade ideas
Swing/Positional- SAIL-Triangle pattern BreatoutSAIL might give Breakout in a day or two.
It can traded for intraday tomorrow above 129.70
Note: Levels are for educational purpose only
BULL PENNANT PATTERNSimilar to flags, both the bull and bear pennants consist of three main elements:
The flagpole - the asset’s price must trade higher in a series of the higher highs and higher lows;
Pennant - a consolidation phase takes place between the two converging lines;
A breakout - a break of the upper trend line activates the pattern, while a break of the supporting line invalidates the formation.
As not one market move happens in a straight vertical fashion, the dominating side must play a tactical game and take breaks between the aggressive moves. Hence, the buyers want to consolidate their recent gains and allow for a minor correction lower. After a temporary pause, the price tends to breakout in an explosive manner.
The bullish pennant is a continuation pattern as it tends to help the existing uptrend extend higher. In essence, the pennant helps traders identify the stage at which the trend is currently in. Therefore, it is much easier to trade the pennant, as trading levels are precisely defined by the two converging lines and a flagpole.
HOW TO TRADE BULL PENNANT PATTERN :
As is the case with all candlestick chart patterns, we have two options for an entry. You can open a trade as soon as the breakout candle closes above the upper line of the pennant i.e. the close is confirmed. Contrary, you can eventually opt to wait for a throwback, when the price action returns to the “crime scene” to retest the broken pennant.
The latter offers a great risk-reward since the entry is at a lower price and the stop loss is very close to the entry, hence, you are risking very few pips. The former makes sure that you don’t miss out on a trade as there are no guarantees that a throwback may take place at all.
Take profit is defined by copy-pasting the flagpole, from a point of the breakout (the diagonal trend line). The end point of the trend line signals a level where the bull pennant pattern is completed.
ENTRY AT - 127.
SL - 120,
TARGET - 212.
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SAIL - FLAG and POLE Breakout PatternSAIL - Forming Flag and Pole Pattern.
Buy - Above 134
Stoploss - 125
Target - 151
Best for Short Term and Swing Trading
a very good pattern is captured by sailif metal setor going bullish the sail will break symmetrical triangle pattern & going bullish anytime till next trading week
Sail - Sail again if you missed the boat alreadyafter a good rally sail is in a consolidation phase.
one can use this opportunity again to enter if that triangle breaks out
Breakout waiting in SAILBreakout waiting in SAIL, can consider to start accumulation slowly. Target 150
SAIL - Flag & pole and Traingle AS you can see in the Chart ... Flag and pole pattern formation and Traingle formation has been shown by SAIL on Daily Chart
There are 3 possible Setups to trade in this Scenario:
Case 1 : if it take support at traingle base as shown in chart ... we can go for a swing trade ... with immediate target of 130 with SL mentioned in the chart
Case 2: if it breaks above resistance .. only with good volume ... then wait for it to retest the resistance trendline ... and if it took support then u can go long ... for safer side by above 135..
Case 3 : In case .. if it break down below 116 ... then w8 for the retest ... if it took resistance at 116 then you go short...
Note : I am still in a learning phase .. please let me know if i missed something
Disclaimer : This is just for Education Purpose only
Patience will give 10% in SAIL 👑 Drop a follow here: @Averoy_Apoorv_Analysis 👑 ----------------------- 🔥🔥 Target: 1000 Followers 🔥🔥
🔥 Strategy :
✣ Channel pattern breakout on 1M chart
✣ Good monthly consolidation and weekly too
✣ On a weekly basis good retracement of 30% multiple times tested near that level
✣ Good triangle pattern on 1hr and 1d both ( Trade on TF whichever suits your setup and RR ratio )
✣ In 1hr you can take it on a lower trendline for a low-risk high reward setup or on a breakout, SL as per your risk and reward setup and mindset
✣ Targets = 150 ( 10% from breakout point )
✣ My trade activation would be on 135-136 levels at 1hr close candle
⌛ Motivational and psychological area ⌛
✣Trade only if you are in the right mindset, if you have been emotionally weak for some time, take your time and don't trade, trade with a happy and + mindset only.
✣If you want to make money, firstly be prepared to lose it, only that much which you can afford and that much by which you can make a mistake again, learn from them and grow
✣Don't lose hope and keep grinding
✣I have seen my friends on youtube streaming games with watching 10, constantly they streamed for a year or two and now they are buzzing with 1k to 2k watching daily.
✣Focus on the process, you are here to make money not stupid decisions, and lose it all
✣No one will help you climb the mountain, few will tell the path, so follow good people, make good mentors and make good decisions and choices in the stock market.
✣Believe in yourself :)
🎓🎓 Some info about me :)
➼My name is Apoorv and I am a 2nd year Engineering student, I want to pursue trading as my career, and thus whatsoever setups or trades I potentially see on my charting platform, I post it here and share them with you all.
➼I hope you will love my simple analysis style.
➼Feel free to suggest your view on this as learning is earning here :)
➼I take my trades on my Zerodha account :)
➼I don't take all the trades I post
➼These charts are my and only my work, my thought process, just from an educational point of view and no calls.
☃☃☃☃ Thank You Have a Nice Trading Day ☃☃☃☃
Sail - BullishAt Strong Support Area
Limited Downside Possible
Grt Risk To Reward
Buying at 123/124
Sl Below 120
Tgts 134/140
SAILNeeds to bounce back from 121 (approx) levels.
Breakout expected in coming days.
Shared only for educational purpose.
No recommendations
Sail triangle patternKeep an eye on sail if triangle breaks then it will rocket, support and resistance mentioned
Intraday Idea for 1st July 2021. If tomorrow SAIL goes below 130, or it retest 132 range and fail to give breakout, then you can short it from 132 or from 130. Target can be set up to 126.50. Stop loss would be above 132.80 if you short nearby 132 / If you short nearby 130 then stop loss would be 132.20 .
Risk to reward is 1:1 or 1:1.5. Do your position sizing correctly. You can expect to get 1.5 to 2 rupees as target.
Reasons: SAIL broke it's support of 20, 50, and 200 MA. And showing down trend in daily chart, which I'll share in a separate post.
NOTE:
USE 5 MINUTE CHART FOR THIS TRADE.
DO YOUR POSITION SIZING CORRECTLY.
DRAW THE LEVELS IN YOUR CHART AS WELL.
DON'T BECOME GREEDY.
DON'T TRADE IN FOMO IF YOU MISS THE RIGHT ENTRY. THERE WILL BE ANOTHER OPPORTUNITY TOMORROW.
Sail Descending Triangle On a Daily Time Frame, Sail is Forming a very beautiful Descending triangle pattern. Currently trading at the resistance of the trend line. Might see a fall for next few sessions and a good fall after the successful breakout. Keep a close watch.
Trend line rejection in 1 day Time frame of SAILSAIL tested it trend line and got rejected with a negative candle. See the below linked article for details. Thank you
