INDIGO trade ideas
Breakout from channelIndigo has BO'd but 1895-1900 is a resistance zone for it...If it opens with reasonable volumes and moves up with good momentum it can reach targets mentioned...let us wait and watch...aviation sector has been hit during covid 19 crisis and as things stand there is still uncertainty..
INDIGO 1DNSE:INDIGO
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INDIGO box range breakoutINDIGO long box range with volume breakout
ENTER long above the high of last daily candle, stop loss will be swing low on daily chart, trail the stop loss for booking profit, follow the timestop method, wait and watch for 5 consecutive day candles, if it is not going in your direction then exit the trade.
indigo trade setupindigo has given close showing the sign of a break out in cup and handle pattern breakout and retest of trendline. But on the other hand it has faced resistance at the harmonic levels drawn in the chart AB=CD , handle depth 14% and pullback 13.8%and the history of the trendline is not trustworthy as couple of times it has rashed after a confirmed breakout in weekly chart, since this is a weekly chart, monday opening and closing will be interesting which might indicate the trend direction, for the longs, correction must be over to resume the uptrend and for the bears it must open below the trendline or price closes below the trendline in a daily chart. add this counter your watchlist.