Long...Immediate Resistance is around 28.70 - 29
which needs to be Sustained to reach 32
initially.
Next Target can be around 36 - 37 & then 40 - 41.
On the flip side, Immediate Support is around
26 - 26.35
However, it should not break 23.50 now.
GHGL trade ideas
GHGLA symmetrical triangle is a chart pattern used in technical analysis that is characterized by two converging trend lines connecting a series of sequential peaks and troughs. The trend lines converge to form a triangle that slopes symmetrically, indicating that neither buyers nor sellers are in control. Here's a breakdown of the key points:
Characteristics of a Symmetrical Triangle:
1. **Converging Trend Lines**: The upper trend line is formed by connecting a series of lower highs, and the lower trend line is formed by connecting a series of higher lows.
2. **Symmetry**: Both trend lines converge towards each other, creating a shape that looks symmetrical.
3. **Volume**: Typically, the volume decreases as the pattern progresses and the price moves towards the apex of the triangle.
4. **Breakout**: A breakout typically occurs before the price reaches the apex of the triangle. This breakout can be in either direction – upwards or downwards – and is often accompanied by a significant increase in volume.
5. **Continuation or Reversal**: This pattern can signal either a continuation of the existing trend or a reversal, depending on the direction of the breakout.
GHGL is BullishGHGL has given a breakout from the accumulation phase by breaking previous lower high. This could mark the beginning of a bullish rally. Targets are mentioned on the chart.
PSX: GHGL VITAL SIGNS ARE TRANSFORMING IN TO STRENGTH SIGNALSOn 3rd of November it was pointed out that script is gaining strength subsequently it hit all its targets.
now after retracement it has started showing the signs of vitality. This time the plan has been prepared in 2hrs time frame. Risk and reward ratio is very good.
Entry levels are more than one.
1. Current level is for aggressive traders.
2. Suggested level 34.75 is for cautious traders.
3. HH i.e. 36.75 is who want to be extremely cautious.
PSX: GHGL VITAL SIGNS BECOMING STRONGER After a long downtrend, which began in 2021, the script is trying to get some foothold from the June of this yeare. These effors seems to be taking some ground.
In this process the script has completed the Harmonic pattern and (PRZ ) potential reversal zone has been established and it is suggested to place the stop loss below this point.
We can use the R-1 and R-2 as our Target Prices.
Another hidden factor, which is not visible on the chart is the two bottoms of harmonic pattern forms "bullish divergence" on weekly chart.
