EXIDE - Multiple confirmation trade opportunity - Swing Trade
The above analysis is done purely based on price action and chart patterns.
The analysis is done on daily TF hence price may take few days to few weeks in order to reach the targets.
(This stock was analysed few months ago as well. To check that analysis, see the idea linked below)
The logic behind this analysis is explained in image itself. It is a multi-confirmation trade opportunity.
(Pls note that even after multiple confirmation, there's always a chance of trade going in opposite direction, hence trade as per your own risk management & position sizing)
Entry can be made between 190-CMP.
Targets and SL is shown in image itself with proper logic.
The zoomed-in image to show the formation of morning star reversal pattern at 0.618 Fibo level is below -
Zoomed-in image showing formation of Bull Flag pattern is below -
The above analysis is purely for educational purpose. Traders must do their own study before entering into any trade. Traders must trade as per their own risk taking capacity and money management.[/b]
Feel Free to comment for any queries regarding the above stock or price action analysis in general.
Also check out my other ideas to understand how price action works and how it can be used to make regular profits without any complex strategies.
The analysis is done on daily TF hence price may take few days to few weeks in order to reach the targets.
(This stock was analysed few months ago as well. To check that analysis, see the idea linked below)
The logic behind this analysis is explained in image itself. It is a multi-confirmation trade opportunity.
(Pls note that even after multiple confirmation, there's always a chance of trade going in opposite direction, hence trade as per your own risk management & position sizing)
Entry can be made between 190-CMP.
Targets and SL is shown in image itself with proper logic.
The zoomed-in image to show the formation of morning star reversal pattern at 0.618 Fibo level is below -
Zoomed-in image showing formation of Bull Flag pattern is below -
The above analysis is purely for educational purpose. Traders must do their own study before entering into any trade. Traders must trade as per their own risk taking capacity and money management.[/b]
Feel Free to comment for any queries regarding the above stock or price action analysis in general.
Also check out my other ideas to understand how price action works and how it can be used to make regular profits without any complex strategies.
