@sidd8380 just checked the monthly chart, but the context is a trading range, just a closure is not enough,good follow through bar is what needed, but in a trading range 80% breakouts fail,another thing I noted in monthly is,it's made wedge top and currently trying to breakout a...
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only 25% chance of successful breakout.....with in 5 bars it may reverse...... Top of a channel is a sell zone ...
less probability trade..... its a bull trap, has not broken the channel , one more leg down expected
@suyashsable once it's breaks the neckline then only sellers will be entered ... currently in a big trading range.... Now buy low sell high scalp mode....
be cautious....it's a bear flag....
can be entered in a scalping mode, there is a 60 % chance for a trend reversal by bears on the move upwards when testing the previous high or even before that because bears has already formed the MAG(moving average gap) bar. so if the bears succeed in reversal,buying pressure wil...
Seeing a buying pressure and probably go up
Position sizing is important even in small capital.
Rising wedge which is expected to be breakdown...so it is a bearish after the break
It's a Flag
This is an rising wedge and is a bearish pattern. Cannot considered as flag and pole because the pole is formed but the ideal flag should be pointing slightly downwards.(correction). If it is pointing up like this it is less chance it will break upside.
@devbraths for knowledgeable there is opportunity everywhere....
Price levels hitting a resistance multiple times in a short period of time will eventually break the resistance up and another indication here is the trading range goes above the control line so a break to up can be expected....
Will go up, currently it's retesting a monthly trendline breakout as well an inverted head and shoulders as well as flag pattern.
Upside break possible in the day
@ajayvarma0143 trading is very difficult and it need the same education as needed to become a engineer or doctor
This isAcending wedge formation and chances of bearish is also there....
Rejection candle on breakout
Acending triangle formation