CHAMBAL FERTILISER - Triangle pattern breakout and re-testCHAMBAL FERTILISER
- Had given a breakout from a multi-week triangle pattern and seems like it has re-tested the same.
- Has taken good support from pivot levels
- reversal candles formed at re-test levels today
Looks like a good long trade is in formation.
DISCLAIMER : This idea-sharing is for educational purposes only and does not constitute any advice. Please do your own research before entering into any trade.
CHAMBLFERT trade ideas
Chambal Fertilizer [Swing opportunity]This script follows a particular trend and is currently at support. The trend here is that the stock bounces off the 50 day EMA. So I am expecting it to bounce back again since it is at a trend line support and EMA support (not a perfect support but works for me).
Targets are given, trade accordingly.
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This is not a recommendation though. Trade as per your knowledge and your risk appetite.
And do not base your trade on what I give. Please do your own research before investing!
I don't post as often but when I do, the trades are potential movers for the week! So trade and book your profits accordingly.
Happy Trading!
[ INTRADAY ] CHAMBLFERT LONG BET
risk: Reward ratio is 1: 2
Rest as per Charts
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Note -
One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells “where” to act in “what direction. Unless it triggers, like, let’s say the candle doesn’t break the level which says “Buy/Sell if it breaks”, You should not buy/sell at all.
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I use shorthands for my trades.
“Positional” - means You can carry these positions and I do not see sharp volatility ahead.
“Intraday” -means You must close this position at any cost by the end of the day.
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Always follow a stop loss.
In the case of Intraday trades, it is mostly the “Low/High of the Candle”.
In the case of Positional trades, it is mostly the previous swings
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