Double Bottom Trade Setup
Pattern Identification
Double Bottom: Identified on the daily chart, indicated by the green line.
Neckline (Blue Line): The key resistance level to watch for a breakout.
Trade Entry
Entry Point: Above the neckline, specifically at the 1408 level.
You are looking for a breakout confirmed by the following candle making a higher high in the next day last 15 minutes of trading (EOD).
Stop Loss : Set below the breakout candle's low to manage risk.
Target : The target is set at 1605, which corresponds to the previous support level.
Considerations.
Note : Waiting for the confirmed breakout before entering is essential to avoid false signals.
Ensure to monitor the trade closely, especially around the stop loss level, to make adjustments if necessary.
If you have specific charts or details you want to discuss further, please share! Do you have any particular concerns or questions about this setup?
Disclaimer : I am not sebi register, just for the knowledge purpose
Pattern Identification
Double Bottom: Identified on the daily chart, indicated by the green line.
Neckline (Blue Line): The key resistance level to watch for a breakout.
Trade Entry
Entry Point: Above the neckline, specifically at the 1408 level.
You are looking for a breakout confirmed by the following candle making a higher high in the next day last 15 minutes of trading (EOD).
Stop Loss : Set below the breakout candle's low to manage risk.
Target : The target is set at 1605, which corresponds to the previous support level.
Considerations.
Note : Waiting for the confirmed breakout before entering is essential to avoid false signals.
Ensure to monitor the trade closely, especially around the stop loss level, to make adjustments if necessary.
If you have specific charts or details you want to discuss further, please share! Do you have any particular concerns or questions about this setup?
Disclaimer : I am not sebi register, just for the knowledge purpose
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.