SUNDARMFIN has broken out of the falling wedge and is retesting the breakout zone successfully.
The structure drawn shows a bullish continuation setup:
Falling wedge breakout ✔️
Price holding above the retest zone ✔️
Momentum shifting higher ✔️
The upside projection points toward the major resistance trendline, with a measured target of ~6.5% from the breakout point.
Your drawing also highlights a profit-taking zone once price reaches the trendline resistance.
Trade Logic from the drawing:
Breakout → Retest → Continuation toward higher resistance
Possible reaction down after reaching the target line.
My Key View:
As long as price stays above the retest level,
bulls are in control toward the upper trendline.
The structure drawn shows a bullish continuation setup:
Falling wedge breakout ✔️
Price holding above the retest zone ✔️
Momentum shifting higher ✔️
The upside projection points toward the major resistance trendline, with a measured target of ~6.5% from the breakout point.
Your drawing also highlights a profit-taking zone once price reaches the trendline resistance.
Trade Logic from the drawing:
Breakout → Retest → Continuation toward higher resistance
Possible reaction down after reaching the target line.
My Key View:
As long as price stays above the retest level,
bulls are in control toward the upper trendline.
SiripiVenu
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.
SiripiVenu
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.