In this approach, Once Breakout or Breakdown levels are breached, we initiate Long or Short positions accordingly with Proper stop loss as mentioned in the chart. Since the Risk Reward is 1:3, we can take a maximum of 3 trades.
If we follow this approach, over the long run, money is gained.
A trader is advised not to treat these setups as lottery tickets....
NTPC with Head and shoulder breakout and now consolidating.
wait for resistance to break and daily candle to close above resistance for further movement.
NTPC looks bullish in the long run as it breaks out of the critical Gann box levels and RSI > 65
PS Nifty PSE sector looks good as well after it has given a BO
NTPC has formed a cup and handle type structure and its price action looks strong for upmove.
Fundamentals are good for NTPC.
You can keep this stock in your watchlist.
A target of 200 is likely in near future.
══════════════════════════════
Since 2014, my markets approach is to spot
trading opportunities based solely on the
development of
CLASSICAL CHART PATTERNS
🤝Let’s learn and grow together 🤝
══════════════════════════════
Hello Traders ✌
After a careful consideration I came to the conclusion that:
- it is crucial to be quick in alerting you with all the...
observations::
After a strong fall from 178 range price is slowly approching the supply area....
slowly moving upwards in a channel.
we have a demand zone @ 169-170 range...
we have Resistance @180 range as well...
if suddenly price is breaks the supply area.. look for sell @180 range.
keep track this levels.
Observe the price action of NTPC.
The price action keeps on repeating itself in Weekly Timeframe.
Now, again it has formed a price action of ABCD. Will it move up?
