POV : FACT : Another Wave of ProfitPOV : FACT : Another Wave of Profit
Chart Reading:
1. Facts of FACT were in a downtrend reflected by both trend lines (High and closed based).
2. Support :
Took Support at
2.A) Previous Resistant & Breakout Zone
2.B) Fib Level 0.618
2.C) 200 SMA
3. Form neat Adam and Eve at the Bottom.
4. Closing Basis Trend Line Breach on 28th Nov.
5. High Basis Trend Line Breach on 29th Nov.
6. Huge Volume on 29th Nov. which gives me additional confirmation of breakout.
Concern :
1. Huge Range Expansion
2. Cover Almost 5 Fractals high in one candle. (although it's a bullish sign but we get stop loss gets far)
Action Plan :
Either Wait for Pullback or Go for Breakout.
Both Entry levels and targets are shared here for your educational purposes.
you have to decide which kind of trader you are.
I am attempting both: if breakout first then go with half qty and rest of add at either POA or Pullback.
Disclaimer :
For educational purposes only. This is not financial advice. Please consult a professional before making financial decisions.
#NiVYAMi
