Descending Triangle Breakout - Bearish Continuation Pattern
TATAELXSI SHORT AT 912 with a Stop-loss of 967 for The Target at 744
Risk 6% & Reward 18.43%
Risk Reward Ratio 1: 3.05
Bearish Continuation Pattern
Descending Triangles
In this “flat-bottom” triangle, the bottom trendline is horizontal and the top trendline slopes downward. The pattern illustrates lows occurring at a constant price level, with highs moving constantly lower.
Level to Watch out is 885 because it's a 0.618% Retracement level of a Major Swing, Low at 510.60 and High at 1326.
If Tataelxsi consolidate around this level and losing it's momentum then it's a good chance to hold this support level.
But if it's going to break the support with strong downward momentum and higher volume then we may see lower levels in a sharp fall.
As per Chart Pattern Minimum Price Target is 18.40% lower form the cmp, so need to manage and trail stop-loss actively.
Risk 6% & Reward 18.43%
Risk Reward Ratio 1: 3.05
Bearish Continuation Pattern
Descending Triangles
In this “flat-bottom” triangle, the bottom trendline is horizontal and the top trendline slopes downward. The pattern illustrates lows occurring at a constant price level, with highs moving constantly lower.
Level to Watch out is 885 because it's a 0.618% Retracement level of a Major Swing, Low at 510.60 and High at 1326.
If Tataelxsi consolidate around this level and losing it's momentum then it's a good chance to hold this support level.
But if it's going to break the support with strong downward momentum and higher volume then we may see lower levels in a sharp fall.
As per Chart Pattern Minimum Price Target is 18.40% lower form the cmp, so need to manage and trail stop-loss actively.
Zlecenie aktywne
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Trailing Stop-Hit on 5th March 2019
Trailing Stop-loss in TATAELXSI at 925 from 967.
Trailing Stop-loss as per Simple Text-book technical analysis which is very basic and everyone knows the same is explained in the image below.