Low risk triangle pattern on SURYAROSNI
SURYAROSNI broke out of triangle pattern on daily chart. There was strong volume on the day of breakout. Price also retested new support level on following trading sessions forming a dragonfly doji indicating sellers are out of steam and were unable to push the price down further. This provides a low risk entry just above todays high with stop loss just below the dragonfly doji candle's low. Target could be just below the high of the triangle pattern. This could offer a low risk reward of 1:3 or even higher depending on market condition.
I'm slightly changing my trading system so as to cut out noise and trade less. This means I'm targeting more of higher probability setups and sharing some with you guys so you could benefit from it. Also you would see the chart more clean without any indicators so we can concentrate on visible price action. Hope you would like this idea, if so please boost it or leave a comment below on what you think.
I'm slightly changing my trading system so as to cut out noise and trade less. This means I'm targeting more of higher probability setups and sharing some with you guys so you could benefit from it. Also you would see the chart more clean without any indicators so we can concentrate on visible price action. Hope you would like this idea, if so please boost it or leave a comment below on what you think.
"It's not whether you're right or wrong that's important, but how much money you make when you're right and how much you lose when you're wrong." — George Soros
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