LOGICAL TRADE IDEA (BREAKOUT & RETEST)Hi mates sharing weekly chart of Ashok Leyland it is taking a same resistance 3rd time (triple weekly top) so are you not surprised if you are a active trader? So friends this is Trading view and by chance I am having many idea to trade this security in many ways but I want to share this time in only two ways for that make it simple for everyone sharing below.
Idea One- As you can see price gives breakout from parallel channel resistance of 155 levels so now we can expect that price will come down touch and bounce from it's breakout zone of 155 levels. (Breakout retesting)
Idea two- will wait for a weekly closing above all time high and can go long in this stock for considering a ATH weekly breakout.
Target and stop loss for above mentioned ideas-:
⚡⚡for idea one we can take a target of current price is 164 from breakout retesting levels of 155 in this execution we can take a stop loss of weekly 150 levels.
⚡⚡for idea two we can take a target of 230 levels which I identified from rising trendline after gets a weekly close of all time high which is near about 167 levels with taking a stop loss of 154 levels which was a channel resistance can act support now.
My words- Sorry you have to use your more Brain to understand this simple idea because the things are seems more simple that actually are more complexed then the things we think are difficult.
KINDLY NOTE-: This is not and trade or investment advice. This idea is meant for learning. Invest your capital at your own risk.
