MetroPolis : Weekly Breakout with good Risk Reward
Sharing possible Elliott wave counts of Metropolis chart, on daily time frame with flag and pole breakout in hourly Time frame which shows it is currently in wave 4 and soon it can start wave 5.
First it made Double bottom pattern and after breaking its neckline it has created Flag and pole.
Wave 3 target of 1.62 level has also been achieved with MACD reaching at peak point.
Price was consolidating for about 180 days in sideways range & has given breakout with good volumes.
One can go long with RR of 1:3 or 1:4 around price level of 1450-1460 with target of 1750 and strict SL of 1380.
My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I an not Sebi registered analyst, and I am not responsible for any kinds of your profits and your losses.
Thanks
NJ
First it made Double bottom pattern and after breaking its neckline it has created Flag and pole.
Wave 3 target of 1.62 level has also been achieved with MACD reaching at peak point.
Price was consolidating for about 180 days in sideways range & has given breakout with good volumes.
One can go long with RR of 1:3 or 1:4 around price level of 1450-1460 with target of 1750 and strict SL of 1380.
My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I an not Sebi registered analyst, and I am not responsible for any kinds of your profits and your losses.
Thanks
NJ
Zlecenie aktywne
We can now take entry at 1440.
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