Ascending Trianlge Pattern Breakout - ICICI Lombard

Price is currently forming an Ascending Triangle pattern and is closer to breakout.
If strong breakout occurs, then price will rally towards the target.

The ascending pattern is observed in MLY and WLY time frames. As per the definition, if the pattern holds good then the target is around the range of 1850 - 1880 which is 30% higher than current price.

Note: There may be short term price reversals but in the medium term this target should be achieved.

Zlecenie aktywne:

Price has closed just below the WLY S-R level but more importantly above the trendline. Price may continue to move sideways but a break above the WLY S-R level should push it higher.

Zlecenie aktywne:

Price closed below the trend line due to the wild market crash. Watch out for reversal and if reversal does not occur then trade will be closed. Wait for this week to play out to get a better picture.

Zlecenie aktywne:

Price has closed at trend line. If it moves up with confirmation, then the breakout will be confirmed. Wait for a bullish crossover of S-R level.

Zlecenie aktywne:

Price has been taking support on the trendline. Next week is crucial. If a breakout occurs with confirmation, then price may move towards the upper target quickly.

Zlecenie aktywne:

Price has again taken support on MLY level. Hold position

Zlecenie aktywne:

Price has yet again trying to take support. Exit if the price closes firmly below the trend line or the MLY S/R level

Zlecenie aktywne:

Price is starting to move up. Watch out for previous high around 1610 levels. If price crosses it then it'll move towards the target of 1870

Komentarz:

Price is still inching up. If price breaks previous high of 1610 levels with confirmation, then it'll move up very easily to target.

Zlecenie aktywne:

Price is still moving up. Watch out for the previous high level of 1610.

Komentarz:

Keep any eye for a sudden up move as previous high of 1610 has been tested and still not fallen down.

Zlecenie zamknięto ręcznie:

Price is moving sideways. Closing the trade at profit for now.