In our previous post we had recommended MGL for a buy around 860 for target of 920 and it worked to perfection to the point making a high of 919
Looking at the charts again we observe
- price action holding on to the gap zone between 902-868
- 20 day EMA crossover above 50 day EMA in late ...
MGL sell Below 834.60
Stoploss - 855
Target - 756
Risk - 2.42% & Reward 9.42%
RR Ratio 1 : 3.90
Reversal or Continuation Pattern
Prices are moving upward, forming higher highs and higher lows, but the price is confined within two lines which get closer together to create a pattern. This indicates a slowing of momentum and it usually precedes a ...