Triangle breakout on ASAHIINDIA
ASAHIINDIA formed a triangle patter on weekly chart and broke out of resistance today. Multiple support and resistance levels were tested prior to breakout. Also note the price tried to breakout few trading sessions back and was rejected. Upon going down the price was again rejected at the support levels. Indicating strong buying interest. Stop loss can be had just below the breakout candle with target the width of the triangle. Entry can be had above today's high. This trade offers ideal risk reward of 1:2.
Hope you like this idea. If you like please boost this idea or leave a comment below on what you think. Otherwise, happy trading :-).
Hope you like this idea. If you like please boost this idea or leave a comment below on what you think. Otherwise, happy trading :-).
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