It is been observed that the price action breaks out from a downward trending channel on hourly chart, indicating a bullish signal and dominance of buyers on movement of price action. It is also important to notice and acknowledge that the price action forms a V-Shape after a breakout. This V-shape formation also refer to the correction to previous resistance level or channel upper trend line. It provides a confirmation of the breakout (refer to Educational 04 post, link provided below)
Target: 254
Stoploss: 248
Risk Reward: 1:4
Target: 254
Stoploss: 248
Risk Reward: 1:4
Operación activa
Kindly update the Risk Reward to 1:2, Thanks to kishore90raj to point it out. Regards
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Publicaciones relacionadas
Exención de responsabilidad
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.