POV: BHARTIARTL - Breakout of Descending Triangle Pattern
1️⃣ Breakout: A neat and clear breakout of the **Descending Triangle Pattern**, confirmed by high volume, signals strength.
2️⃣ Trend & Momentum: On the daily timeframe, both trend and momentum are in positive sync, adding confidence to the breakout.
3️⃣ Concerns: - On the weekly timeframe, the trend is positive, but momentum is still improving, suggesting the journey to the target could be bumpy. - Range expansion indicates waiting for a pullback is ideal. However, with the Point of Action (POA) around 75 points away, my plan is to: - Take half an entry at the breakout of the current candle. - Add the other half at the pullback level, if the opportunity arises.
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