It might seem very head tipping to do strangle on a compression line this.
But my allegiance is with money towards the pocket instead of pleasing anyone's head.
No stop loss. Will update risk management if needed.
Based on weekly chart, downtrend about to start soon. Levels in the chart.
Disclaimer - Trying to learn. Not based on an actual trade being made by me.
Long if it breaks the high of the previous day with a stop loss at the previous day's low.
Short if it breaks the low of the previous day with a stop loss at the previous day's high.
In case of gap up above the previous day's high or gap down below the previous day's low, please avoid buying it or selling it respectively. Follow the ending of the candle formed...
NTPC Breakout done on the Upside. It should fall to complete Harmonic Move. Buy 145_140.5 if gives indecision or Rejection Or reversal Candlestick Pattern. Hold the Position as it has given Weekly Breakout. Target 178/209+
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NSE:NTPC![NTPC: [Turtle] NTPC Compression Bet - Strangle](https://s3.tradingview.com/6/6g9ihm46_mid.png "[Turtle] NTPC Compression Bet - Strangle")
