Coal India : Ascending-Broadening Wedge Pattern
Hey Guys,
Happy Monday... We got one of the broadening types of wedge pattern and right now CoalIndia is moving between the upper n lower trendlines of wedge pattern. We can't trade at this moment using this pattern. But wait for the breakout,Once the breakout happens enter the direction of breakout.
Sometimes due to volatility of market false breakout can happen, so don't get caught on wrongside, even if that happened don't hesitate to take trade on other side after valid breakout. I have marked an area on lower trendline,what happens approx. around that area will be key factor to make decision.
Hit Likes to agree with the post.... Thanks for your support !
Happy Trading !
Happy Monday... We got one of the broadening types of wedge pattern and right now CoalIndia is moving between the upper n lower trendlines of wedge pattern. We can't trade at this moment using this pattern. But wait for the breakout,Once the breakout happens enter the direction of breakout.
Sometimes due to volatility of market false breakout can happen, so don't get caught on wrongside, even if that happened don't hesitate to take trade on other side after valid breakout. I have marked an area on lower trendline,what happens approx. around that area will be key factor to make decision.
Hit Likes to agree with the post.... Thanks for your support !
Happy Trading !
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