Hello traders, this stock has been in my watchlist for a long time now, but for me it's not tradeable right now until and unless it it triggers one of the 2 possible scenario above.
Scenario 1
It completes the double top pattern:
In this case it will go to the bottom of the long existing channel.
Risk reward will be 1:4
200 MA cluster can also act support.
Scenario 2
It takes support from bottom channel line:
It falls down but without triggering our short.
Risk reward will be 1:5
Takes support from the 200 MA or
Takes support from bottom channel trendline
Bounces up to the upper side of channel
Please LIKE, COMMENT and SHARE to motivate and support me. I'll keep on posting new ideas on Indices & Stocks. Be sure to follow so that you don't miss any good trades that might have been rewarding.
Any comments and critiques will be appreciated even if it's of opposite view as a trader can also be right so many times.
Scenario 1
It completes the double top pattern:
In this case it will go to the bottom of the long existing channel.
Risk reward will be 1:4
200 MA cluster can also act support.
Scenario 2
It takes support from bottom channel line:
It falls down but without triggering our short.
Risk reward will be 1:5
Takes support from the 200 MA or
Takes support from bottom channel trendline
Bounces up to the upper side of channel
Please LIKE, COMMENT and SHARE to motivate and support me. I'll keep on posting new ideas on Indices & Stocks. Be sure to follow so that you don't miss any good trades that might have been rewarding.
Any comments and critiques will be appreciated even if it's of opposite view as a trader can also be right so many times.
