NTPC has given a strong breakout above a resistance zone that was tested multiple times and is now approaching a retest of this zone, which is expected to act as a support zone. Based on this setup, a swing trade opportunity may be considered.
Entry: A long position can be initiated after the close of a strong bullish candle near the flip zone.
Stop Loss: A stop loss order can be placed below the flip zone to limit potential losses.
Targets:
Target 1: Take profit can be set near the next resistance zone as marked on the chart.
Target 2: Once target 1 is achieved, a second profit target can be set near the next resistance zone 2 as marked on the chart.
What is Flip Zone?
A flip zone is a term used to describe a price zone that has flipped from acting as a resistance to acting as a support level or vice versa. It occurs when the price breaks through a key level, then retests it, causing the level to switch from acting as resistance to support or vice versa.
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Entry: A long position can be initiated after the close of a strong bullish candle near the flip zone.
Stop Loss: A stop loss order can be placed below the flip zone to limit potential losses.
Targets:
Target 1: Take profit can be set near the next resistance zone as marked on the chart.
Target 2: Once target 1 is achieved, a second profit target can be set near the next resistance zone 2 as marked on the chart.
What is Flip Zone?
A flip zone is a term used to describe a price zone that has flipped from acting as a resistance to acting as a support level or vice versa. It occurs when the price breaks through a key level, then retests it, causing the level to switch from acting as resistance to support or vice versa.
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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.