COALINDIA formed a symmetrical triangle on daily chart and broke out of resistance with strong bullishness followed with huge volume spike. Looking the pattern formation, could see bears are weakening on every swing before breakout of resistance. Also note the low volume when price falls indicating sellers are not willing to let go at lower price. Prior runup to formation of the pattern also indicates bulls are out there to move the price. One could have stop loss just below breakout candle with potential target close the width of triangle. Risk reward is also favorable in this trade at 1:2.
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Hope you liked this idea, if so please boost this idea so others could benefit or leave a comment on what you think. I'll be glad to hear from you. Otherwise happy trading :-)
"It's not whether you're right or wrong that's important, but how much money you make when you're right and how much you lose when you're wrong." — George Soros
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.
"It's not whether you're right or wrong that's important, but how much money you make when you're right and how much you lose when you're wrong." — George Soros
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.