INDHOTEL Down to its 2 Year old support ??!!!!

10 Feb 2023

Chart pattern does pave way for the above titled opinion

Reasons:

1. INDHOTEL has been trading inside an Ascending Channel pattern for the past 2 years, taking support and resistance at perfect levels till now.
2. Currently it is going through the Downswing move(in the form of descending channel pattern forming lower high and lower lows) inside the major ascending channel.

3. Weekly time frame chart below



4. Target & SL levels mentioned @ chart

5. Entry can be made after hourly breakdown out of the white trendline as shown below



Let's wait & watch, how it moves!!!!

Note- Just sharing my view....not a tip nor advice!!!!

13 Feb 2023

Dagangan aktif

1 hr breakdown!!!

13 Feb 2023

Nota

nice followup!!!

21 Feb 2023

Dagangan aktif

lower low formed....increasing the probability of our trade!!!!

22 Feb 2023

Dagangan aktif

1st Target done!!! gap filled!!!

1 Mac 2023

Nota

As far as it is inside the channel , it is bearish

2 Mac 2023

Nota

If it breaks 325 and makes a higher high...better to exit!!!

6 Mac 2023

Nota

still respecting the levels!!!!

8 Mac 2023

Dagangan ditutup secara manual

27 Mac 2023

Nota

Take the green 2 year support line as target....
may form the higher low and then shoot upwards!!!!
let's wait and watch!!!