Trade with reversal confirmation in 15min and 5min timeframes.
Momentum may rise after touching SMA 20..
enter at retest after break out / consolidation..
shorting opportunity
Crude oil forming Ascending triangle, expanding triangle patterns.
Facts behind: 1. Nifty Pharma index box breakout in weekly Time Frame. 1000points up movement possible. 2. Sun Pharma formed trend reversal confirmed (New high formation in monthly Time frame). 3. Daily time frame in consolidation. FOLLOW THE GOLDEN RULE OF RISK MANAGEMENT.DON'T RISK MORE THAN 2% OF YOUR CAPITAL PER TRADE.
Consolidation is about to end, ready to fly higher.
Trade accordingly. Use S&R
Best entry for long. New high confirmed & entering at pullback/ retest area. exit after trend reversal or correction confimation.
Currently within the range, once breakout done can go for long also confirmation with inclined trendline breakout. Cheers.
In Daily timeframe .. Double bottom formed neckline broken & Retest completed. Next target will be 54.5 - 55 $ range..
In Daily timeframe.. Double bottom formed neckline broken & Retest completed. Next target will be 54.5 - 55 $ range..