A Nice flag breakout given by idea on daily charts, It might a good idea to go long with Idea
Flag Pole formed with very high volume consequently volume dried while forming the consolidation pattern.
At the end, Price given successful breakout to UPSIDE with increased volume which indicates a successful flag.
Target 50 points from 110, Stop loss Below 105 (as per risk appetite)
Trade Strategy :
Buy the pull backs to the flag or go long with the next impulsive moves ( Note RSI entering to 70+ levels)
Flag Pole formed with very high volume consequently volume dried while forming the consolidation pattern.
At the end, Price given successful breakout to UPSIDE with increased volume which indicates a successful flag.
Target 50 points from 110, Stop loss Below 105 (as per risk appetite)
Trade Strategy :
Buy the pull backs to the flag or go long with the next impulsive moves ( Note RSI entering to 70+ levels)
Comment:
Consolidation Structure changed little bit, will wait for more clarity for the trend.
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