Trade setup:
Daily TF: Broke out of Pennant formation (continuation pattern) with volumes. Structure changed to LH - LL to HH - HL (bullish). taking support at 200 EMA. 750 INR levels will act as strong support.
Weekly TF: Taking support at 50 EMA.
Entry = 811 INR (CMP)
SL = Swing low ie; 720 INR
Target = 870 INR (t1), 970 INR (t2)
RR = 2.09 (considering T2)
Daily TF: Broke out of Pennant formation (continuation pattern) with volumes. Structure changed to LH - LL to HH - HL (bullish). taking support at 200 EMA. 750 INR levels will act as strong support.
Weekly TF: Taking support at 50 EMA.
Entry = 811 INR (CMP)
SL = Swing low ie; 720 INR
Target = 870 INR (t1), 970 INR (t2)
RR = 2.09 (considering T2)
Trade closed: target reached:
13th Oct 21: Boom! Boom! perfect trade.
Targets t1 & T2 reached.
Trade closed.
Targets t1 & T2 reached.
Trade closed.