It has been observed that the price action is breaking out of channel pattern and shall further move up to resistance zone.
T1- 460 T2- 480 SL - 420
Trade ativo
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Trade ativo
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Confirmed breakout, now a good rally can be seen. Regards
Comentário
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Which Initially looked like a convincing breakout, turned out to be a failed one. Here is an updated look on the chart,
In next session, if hourly chart closes below 420 then it shall further dip to strong support of 400 levels.
Thanks
Comentário
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As we could see in last few sessions that the price action did not close below 420 levels on hourly chart which kept the support intact and now today the price action finally breaches above the downward channel indicating further higher movement.
@smn3949, You can hold until the hourly candle does not close below 420 levels once it does on next trading session then you may exit the position or reverse it for 400 levels. Thanks
smn3949
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@NeeteshJain, thanks
but daily chart lookins good for long
ksgullia
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Stoploss is on closing basis sir ???
NeeteshJain
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@ksgullia, Yes, I generally plan accordingly. Thanks
@aybamasa, Yes, it did touch the support zone of 420-415 but it held above 420 levels. On monday, if the hourly candle closes below 420-415 levels then it shall further touch the strong support of 400 as shown in updated chart. Thanks
shiv2798
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Good brake out
NeeteshJain
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@shiv2798, Initially, it looked like a convincing breakout but eventually came out to be a failed breakout. Now, we shall look forward on Monday for further confirmation. Thanks