Fellow trader,
Eicher motors has broken the range bound market in weekly timeframe, and now the market is re-testing.
Aggressive entry : Whoever enter the market immediately after the breakout
Conservative entry : Whoever enter after the market re-test.
The weekly range bound breakout target is 5684 & the SL for the same is 4548
Now in the re-test, there is a clear formation of a swing in 4H/1D timeframe, after a inverted H&S pattern breakout in 1H timeframe consider to enter the trade based on this swing.
Considering the pattern of Weekly or 4H time frame trade can be taken, the SL and Targets are in the chart.
The Risk : Reward ratio for the swing is 1:4.47
Sensibull : https://sbull.co/s/WedzM9XD/
Eicher motors has broken the range bound market in weekly timeframe, and now the market is re-testing.
Aggressive entry : Whoever enter the market immediately after the breakout
Conservative entry : Whoever enter after the market re-test.
The weekly range bound breakout target is 5684 & the SL for the same is 4548
Now in the re-test, there is a clear formation of a swing in 4H/1D timeframe, after a inverted H&S pattern breakout in 1H timeframe consider to enter the trade based on this swing.
Considering the pattern of Weekly or 4H time frame trade can be taken, the SL and Targets are in the chart.
The Risk : Reward ratio for the swing is 1:4.47
Sensibull : https://sbull.co/s/WedzM9XD/
Trade active
For the range bound pattern the trade is active, Those who planning to enter based on the swing, wait for the inverted H&S to confirm on 1H timeframe
Note
At daily timeframe, there is DB formation.wait for the Daily neckline breakout.
Note
The swing in daily has started, the DB in daily has broken the neckline.the target is the same(Weekly target 5684)
Note
The DB pattern target is hit
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.