Bank Baroda - Ending Diagonal + RSI Divergence

It is been observed on the daily chart that the price action breaks above the Ending Diagonal and also formed a RSI divergence indicating a change in price action from a down to upward trend. It shall further move up from current levels.

T1-142
T2-145
SL136

Trade ativo

Trade ativo

Trade fechado manualmente:

Currently, Markets consolidating, no direction confirmed yet. it is wise to close longs until further direction confirmed.

Comentário:

Taking support at 137

Comentário:

Now, if tomorrow the price action breaks below 136 levels then the trade setup can easily be reversed to form a new trade setup with downward stance for targets 130-132 levels in order to cover previous position and gain at the end. Thanks

Comentário:

The trade might have closed earlier due to high volatility and uncertainty in the market but the pattern proved to be correct as it did come back strongly and reached to the given targets.

Now, it shall further move up to 144-45 levels. Thanks

Comentário:

Reached 144-145 levels.