POV: GODFRYPHLP - Short-Term Reversal PlayPOV: GODFRYPHLP - Short-Term Reversal Play 🚀
Scrip: NSE:GODFRYPHLP
🧐 Chart Reading: Technical Confluence
This setup offers a powerful bullish confluence:
Master Candle (MC) Setup Candidate: Classic MC identified, signalling a potential future directional breakout.
Inside Bar Formation: Price has consolidated, often preceding a strong volatility expansion.
OL (Open = Low) Candle: Previous day showed immediate buying strength from the open.
Extreme Range Contraction: Volatility is crushed, indicating a high probability of an imminent range expansion spike.
⚠️ Key Concerns & Risks
Factors requiring caution:
Overarching Trend is Bearish: This is a counter-trend reversal attempt.
Momentum Just Initiating: Bullish momentum is only in its early stages.
Early Attempt: Targeting an early short-term spike, making it inherently a higher-risk setup.
💡 Action Plan & Execution
Action: Initiate a Long Trade on confirmation.
Entry Point: Decisive cross above 3055.
Stop Loss (SL): Critical SL must be placed at 2998.
Defined Risk: 57 Points (approx 1.85%)
Target 1 (T1): 3120
Target 2 (T2): 3210
Target 3 (T3): 3295
✏️ Disclaimer
For educational purposes only. This is not financial advice. Please consult a professional before making financial decisions.
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