RCF - Ascending Triangle - Swing
Updated
This analysis is purely based on price action and Chart Patterns.
The analysis is on daily TF hence target can be achieved in couple of days to weeks.
As can be seen from the charts, price has been in consolidation phase for some time. But Look at the volume candles. It clearly shows the high accumulation being done.
Actual Breakout from the resistance is yet to happen. Hence only risk taking traders should enter the stock anywhere between the consolidation zone.
For safe traders, entry can be either above the high of breakout candle or wait for pullback after breakout and then enter on pull-back.
SL and Targets are clearly marked in the image itself.
Don't chase the price. Always plan your trade & trade your plan
Keep trailing SL accordingly once entered into the trade.
This analysis is purely for education purpose. Kindly do your own study before entering into any trade .
Also check out my other ideas to understand how price action works and how it can be used to make regular profits without any complex strategies.
Feel Free to comment for any queries regarding the above stock or price action analysis in general.
The analysis is on daily TF hence target can be achieved in couple of days to weeks.
As can be seen from the charts, price has been in consolidation phase for some time. But Look at the volume candles. It clearly shows the high accumulation being done.
Actual Breakout from the resistance is yet to happen. Hence only risk taking traders should enter the stock anywhere between the consolidation zone.
For safe traders, entry can be either above the high of breakout candle or wait for pullback after breakout and then enter on pull-back.
SL and Targets are clearly marked in the image itself.
Don't chase the price. Always plan your trade & trade your plan
Keep trailing SL accordingly once entered into the trade.
This analysis is purely for education purpose. Kindly do your own study before entering into any trade .
Also check out my other ideas to understand how price action works and how it can be used to make regular profits without any complex strategies.
Feel Free to comment for any queries regarding the above stock or price action analysis in general.
Trade closed: target reached
Target-1 reached on the very first day with huge 20% Upper circuitTrade closed: target reached
Target-2 reachedracing towards another 20% upper circuit
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