SBI Trading Idea || RR - 1:5
A nice channel can be seen on chart. About 4 attempts at breaking out pre-covid. Price broke down below the channel during covid but has made a good return and is likely test the upper resistance. Since it has moved from the lower trendline to the upper trendline in a steep movement, I expect some consolidation/a retest before a final breakout can be seen.
Buy : 261-264
T1 : 291
SL : 254.80
Thanks!
P.S. The rough time stop loss I set on all my trade is about 20-30% of the time the pattern took to form. Be rest assured regardless of the direction my trading ideas proceed in, I'll update the idea to reflect the same.
Buy : 261-264
T1 : 291
SL : 254.80
Thanks!
P.S. The rough time stop loss I set on all my trade is about 20-30% of the time the pattern took to form. Be rest assured regardless of the direction my trading ideas proceed in, I'll update the idea to reflect the same.
Penafian
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