DOLLAR INDUSTRIES HIGH MOMENTUM TRADE
DOLLAR broke out from a major rising wedge pattern. Price did attempt a breakout prior to this but it could not sustain. Likewise, price gave a fake breakdown before giving a proper breakout and releasing huge momentum (25-30% in 1 week).Strong volumes towards virgin territory is another bullish sign in favor of this trade playing out.
One may skip this trade because price has already moved 15% post breakout, But any small consolidation or a considerable retrace in price is a golden chance to enter and ride this momentum.
Keep this stock in a watchlist. Don't miss out this beautiful trade. Lookout for any kind of retracement or consolidation and enter blindly. Potential 1:3, 1:4 Risk reward trade.
Targets: 600/700/850+
sl: below 465 *as per price action (Opt for a more dynamic sl once price retraces to a lower level near breakout highs)
Position size accordingly. WAIT FOR RETRACE. DON'T JUMP IN. LET GO OF THE TRADE IF PRICE CONTINUES TO RALLY IN ONE DIRECTION.
HAPPY TRADING!
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