Lets try something new !
It is called Distribution phase and it is comprising of
BC - buying climax
AR - Automatic Response
ST - Secondary Test
UT - Upthrust
UTAD - Upthrust after Distribution
SOW - Sign of weakness
One thing to note that Distribution phase looks like Reaccumulation phase so in such cases , trades needs to be initiated only after...
Petronet is forming a pennant pattern in monthly TF .
Pennant pattern is a bidirectional pattern but I will be placing my bets on long side as per levels mentioned on chart with Strict SL.
Any queries just comment , will be happy to discuss :)