EXIDE INDUSTRIES - Ascending Triangle Pattern (Swing/Positional)
This study is purely based on Price Action and Chart Patterns.
Reasons/Logics for going long is explained in image itself.
Trade strategy -
For Risk Taking Traders - Entry point would be above the high of next green candle or above 170 level - (ENTRY-1). SL is marked below the double bottom for Entry-1
For Risk Averse Traders - Entry point would be on the high of breakdown candle or on high of retesting candle (retesting the recent supply zone and taking it as support) - (ENTRY-2). SL is marked for Entry-2 as well.
This is for short term positional or swing trade.
SL should be trailed accordingly once the trade is initiated.
*This analysis is purely for study purpose, enter the trade at your risk and money management*
Comment for any further queries.
Reasons/Logics for going long is explained in image itself.
Trade strategy -
For Risk Taking Traders - Entry point would be above the high of next green candle or above 170 level - (ENTRY-1). SL is marked below the double bottom for Entry-1
For Risk Averse Traders - Entry point would be on the high of breakdown candle or on high of retesting candle (retesting the recent supply zone and taking it as support) - (ENTRY-2). SL is marked for Entry-2 as well.
This is for short term positional or swing trade.
SL should be trailed accordingly once the trade is initiated.
*This analysis is purely for study purpose, enter the trade at your risk and money management*
Comment for any further queries.
