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INVERTED HEAD AND SHOULDER BREAKOUT
HINDUSTAN PETROLEUM CORP
Long
INVERTED HEAD AND SHOULDER BREAKOUT
Di dhineshraj1410
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29 set 2021
0
29 set 2021
BREAKOUT
of Inverted Head & Shoulder pattern.
Breaking the
RESISTANCE LEVEL OF 288 - 290
, which has been formed since
APRIL, 2018
and acted as Resistance level for
Four times in Monthly Timeframe
.
HUGE VOLUME
supporting the breakout candle in Daily timeframe.
These above points confirms it as a
STRONG BREAKOUT
.
SUPPLY ZONE
is at 315 - 320 levels, which is created during
FEBRUARY, 2018
in Monthly Timeframe and it has not been tested again.
Go for LONG, from 293 to 295, after the retest or pullback comes and pullback can happen for the price to catch up with
EMA 20
Target 315 - 320, because of Supply Zone.
Stoploss at 283 - 285, just below the resistance level.
Head and Shoulders
Support and Resistance
Volume
dhineshraj1410
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