TRENT - Three candles Bullish Reversal (Morning Star)- SwingThis analysis is done purely on basis of price action and chart patterns
Analysis is done on Daily TF hence it may take few days to few weeks for price to reach the given target
Logic as well as the strategy for the trade setup is explained in the image itself.
Pls note that this is not a trade recommendation. Do your own study before entering into any trade.
Trade with your own risk & money management.
Feel Free to comment for any query or suggestions
Check out other reversal patterns in following ideas -
(1) HDFC - Mother-Baby (Bullish-Harami) Pattern
(2) VINATI ORGANICS - Morning Star Reversal Pattern.
Trent
TRENT Bull Channel Third Push UpEntry - Around 600, near the trend line
1st Target - 695.25 ( A bit lower than the previous swing high)
2nd Target - 795.05 ( Top of the channel and also a previous strong resistance)
Rationale - TRENT has been moving in a parallel bull channel with bull candle volume outweighing the bear candle volume. The 61.8% retracement level was also breached indicating strong bullish pressure for the 3rd push in the channel.