MASTEEL entering Stage 2 with VCP
Updated
MASTEEL double bottom spotted on the left (red box) experiencing downtrend stage 4 for more than 500 days. Huge volume spotted since Nov 2022 and chart reversal from stage 4 to stage 2.
VCP setup on the right (green box) for more than 2 months with contraction below:
C1: -20%
C2: -13%
C3: -6%
Price breakout on 26th Jan and experiencing a pullback to re-test the support. This movement is similar to PPHB that i shared earlier. (refer to link below)
Let's see if this counter can go up further after the pull back.
Note: Metal sector seem brewing, another metal counter also having very good setup, will share the idea later.
Feel free to comment to let me know your thoughts.
Disclaimer:
Information presented here is not intended to be used as the sole basis of any investment decisions nor should it be construed as advice designed to meet the investment need of any investor. Trade at your own risk.
VCP setup on the right (green box) for more than 2 months with contraction below:
C1: -20%
C2: -13%
C3: -6%
Price breakout on 26th Jan and experiencing a pullback to re-test the support. This movement is similar to PPHB that i shared earlier. (refer to link below)
Let's see if this counter can go up further after the pull back.
Note: Metal sector seem brewing, another metal counter also having very good setup, will share the idea later.
Feel free to comment to let me know your thoughts.
Disclaimer:
Information presented here is not intended to be used as the sole basis of any investment decisions nor should it be construed as advice designed to meet the investment need of any investor. Trade at your own risk.
Trade active
Enter position 0.40 during the pull back. Today good signal. Engine might start!Trade active
Breakout and pull back. Re-test resistance as support. same story every time. Entry point is important to avoid panic.Comment
Deep correction up to 16% after breakout failure. Entry price is important.If chase high buy at breakout definitely should cut loss during the dip.
If entry 0.390/0.395 still within the risk.
Trade closed: stop reached
No rally and setup failed.
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