POL

📊 Trade Setup: Pakistan Oilfields Limited (POL) – Daily Chart
✅ Trade Bias: Bullish (Trend Continuation)
🟢 Entry Zone (Buy Area):

Price: Between PKR 705 – 715

This is the support retest zone after breakout, aligned with minor support and EMA.

🎯 Target (TP – Take Profit):

First Target (TP1): PKR 748.50 (Immediate resistance)

Second Target (TP2): PKR 790 – 791 (Next major resistance / measured move)

❌ Stop Loss (SL):

Below PKR 688

Ideally, below the confluence of:

Previous structure support

Trendline support

50 EMA

Example: SL at 684

🔁 Risk/Reward Ratio Example:

Entry: 710

SL: 684

TP1: 748.5

TP2: 790

R:R for TP1 = (748.5 - 710) / (710 - 684) = 38.5 / 26 = ~1.48:1
R:R for TP2 = (790 - 710) / (710 - 684) = 80 / 26 = ~3.07:1
⚠️ Additional Notes:

Watch for volume confirmation above 748.

If the trendline breaks, re-evaluate the setup or exit early.

Be cautious of sharp wicks near resistance — they may indicate exhaustion.