trendline breakout possibility on both long and short side
entries, stop and tgt at respective levels
my personal view is wait for breakout at long side
but cant say anything about market.
there is good risk reward ratio at both sides, though.
Nickel Sep Long
Bullish engulfing candle stick pattern
Buy at CMP-1451.2
SL- 1438.8
Target- 1462.8, 1474
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Charts and views are only for educational purpose.
Marked support and resistance
Consolidation trading is on
Any break out trade with candle closure is suggestible.
Resistance above candle closure buy or support BD below candle closure sell.
Nickel is forming an short opportunity levels r been mentioned in the chart kindly see the level and trade accordingly . Volatility can seen in coming days as nickel is at critical point can give many try to test the resistance level keep stoploss wisely and trade if unable to break the resistance level then more likely it will test the given support level .
If...
** Change the chart time to 5M and see the levels for perfect view.
Today nickel moved completely based on price action and left many clues....
1) Created ORB then moved to High of the day in a trend line and broken.
2) Started falling and whole day moved in a channel after forming flag pattern.
3) Later in evening broken that flag pattern and given a jump...
