Dear Saudi Traders and Investors, I'm sharing with you this analysis on 2281 since I got questions if it's time to buy it or no.
For now don't buy it until you get a confirmation of the pullback on the support level it just pulled back on to reach the level 0.5 of the Pitchfork.
Don't hesitate to ask in case you got any question!
Price has taken support from important zone
Trednline, Horizontal Support confluence
Price is in Uptrend (Formation of HH, HL)
Completion of AB=CD targets
New formation of AB=CD in process
Cup & Handle formation is in process
SL and TPs are specified
Ride the trend with trailing SL
Running in parallel channel (Hourly TF) after an uptrend.
Signs of accumulation
breakout from trendline is observed with good volume.
Short term trade with tight SL can be taken
Good long term potential above parallel channel top
Price is moving in parallel channel for a while (accumulation)
Bulls need to breakout for Long setup
Rising Wedge formation is in picture
HH, HL formation continues in higher timeframe
Entry after breakout of channel can be taken for a Good Risk Reward Ratio
Trail Stop Loss
