dukeposh

CBG | Doubled Bottom Breakout in TFW - 1st Trend Reversal

Long
SET:CBG   CARABAO GROUP PUBLIC COMPANY LIMITED
Price action and chart pattern trading setup
> First time trend reversal pattern doubled bottom in weekly timeframe - a significant level trend reversal pattern
> 1st Entry at breakout and 2nd one at pullback retraced
> Target zone near SMA200 ( 0.618 retracement )
> Risk Reward Ratio: 1.5-2:1 for medium term trade
> Stoploss near the lowest bottom
Indicator support:
> Strong smart money and banker chip volume
> Fundflow RSI coming out of oversold area
> BBD positive signal cross above baseline
> KDJ stochastic on uptrend ribbon

Always trade with affordable risk and respect your stoploss

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.