Ascending Trianlge Pattern Breakout - ICICI Lombard
Price is currently forming an Ascending Triangle pattern and is closer to breakout.
If strong breakout occurs, then price will rally towards the target.
The ascending pattern is observed in MLY and WLY time frames. As per the definition, if the pattern holds good then the target is around the range of 1850 - 1880 which is 30% higher than current price.
Note: There may be short term price reversals but in the medium term this target should be achieved.
If strong breakout occurs, then price will rally towards the target.
The ascending pattern is observed in MLY and WLY time frames. As per the definition, if the pattern holds good then the target is around the range of 1850 - 1880 which is 30% higher than current price.
Note: There may be short term price reversals but in the medium term this target should be achieved.
Сделка активна:
Price has closed just below the WLY S-R level but more importantly above the trendline. Price may continue to move sideways but a break above the WLY S-R level should push it higher.
Сделка активна:
Price closed below the trend line due to the wild market crash. Watch out for reversal and if reversal does not occur then trade will be closed. Wait for this week to play out to get a better picture.
Сделка активна:
Price has closed at trend line. If it moves up with confirmation, then the breakout will be confirmed. Wait for a bullish crossover of S-R level.
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Price has been taking support on the trendline. Next week is crucial. If a breakout occurs with confirmation, then price may move towards the upper target quickly.
Сделка активна:
Price has again taken support on MLY level. Hold position
Сделка активна:
Price has yet again trying to take support. Exit if the price closes firmly below the trend line or the MLY S/R level
Сделка активна:
Price is starting to move up. Watch out for previous high around 1610 levels. If price crosses it then it'll move towards the target of 1870
Комментарий:
Price is still inching up. If price breaks previous high of 1610 levels with confirmation, then it'll move up very easily to target.
Сделка активна:
Price is still moving up. Watch out for the previous high level of 1610.
Комментарий:
Keep any eye for a sudden up move as previous high of 1610 has been tested and still not fallen down.
Сделка закрыта вручную:
Price is moving sideways. Closing the trade at profit for now.