Descending Triangle Breakout - Bearish Continuation Pattern
Обновлено
TATAELXSI SHORT AT 912 with a Stop-loss of 967 for The Target at 744
Risk 6% & Reward 18.43%
Risk Reward Ratio 1: 3.05
Bearish Continuation Pattern
Descending Triangles
In this “flat-bottom” triangle, the bottom trendline is horizontal and the top trendline slopes downward. The pattern illustrates lows occurring at a constant price level, with highs moving constantly lower.
Level to Watch out is 885 because it's a 0.618% Retracement level of a Major Swing, Low at 510.60 and High at 1326.
If Tataelxsi consolidate around this level and losing it's momentum then it's a good chance to hold this support level.
But if it's going to break the support with strong downward momentum and higher volume then we may see lower levels in a sharp fall.
As per Chart Pattern Minimum Price Target is 18.40% lower form the cmp, so need to manage and trail stop-loss actively.
Risk 6% & Reward 18.43%
Risk Reward Ratio 1: 3.05
Bearish Continuation Pattern
Descending Triangles
In this “flat-bottom” triangle, the bottom trendline is horizontal and the top trendline slopes downward. The pattern illustrates lows occurring at a constant price level, with highs moving constantly lower.
Level to Watch out is 885 because it's a 0.618% Retracement level of a Major Swing, Low at 510.60 and High at 1326.
If Tataelxsi consolidate around this level and losing it's momentum then it's a good chance to hold this support level.
But if it's going to break the support with strong downward momentum and higher volume then we may see lower levels in a sharp fall.
As per Chart Pattern Minimum Price Target is 18.40% lower form the cmp, so need to manage and trail stop-loss actively.
Сделка активна
Заметка
18th February 2019 Cmp 859.25 and Made a low of 830.10, Pattern Target is 744.Trailing Stop-loss in TATAELXSI at 925 from 967.
Trailing Stop-loss as per Simple Text-book technical analysis which is very basic and everyone knows the same is explained in the image below.
Сделка закрыта вручную
Trailing Stop-Hit on 5th March 2019
Похожие публикации
Отказ от ответственности
Все виды контента, которые вы можете увидеть на TradingView, не являются финансовыми, инвестиционными, торговыми или любыми другими рекомендациями. Мы не предоставляем советы по покупке и продаже активов. Подробнее — в Условиях использования TradingView.