INDHOTEL Down to its 2 Year old support ??!!!!

Cập nhật
Chart pattern does pave way for the above titled opinion

Reasons:

1. INDHOTEL has been trading inside an Ascending Channel pattern for the past 2 years, taking support and resistance at perfect levels till now.
2. Currently it is going through the Downswing move(in the form of descending channel pattern forming lower high and lower lows) inside the major ascending channel.

3. Weekly time frame chart below

ảnh chụp nhanh

4. Target & SL levels mentioned @ chart

5. Entry can be made after hourly breakdown out of the white trendline as shown below

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Let's wait & watch, how it moves!!!!

Note- Just sharing my view....not a tip nor advice!!!!

Giao dịch đang hoạt động
1 hr breakdown!!!
Ghi chú
nice followup!!!
Giao dịch đang hoạt động
lower low formed....increasing the probability of our trade!!!!
Giao dịch đang hoạt động
1st Target done!!! gap filled!!!
Ghi chú
As far as it is inside the channel , it is bearish
Ghi chú
If it breaks 325 and makes a higher high...better to exit!!!
Ghi chú
still respecting the levels!!!!
Giao dịch được đóng thủ công
Ghi chú
Take the green 2 year support line as target....
may form the higher low and then shoot upwards!!!!
let's wait and watch!!!
Ascending ChannelchannelpatterntradingChart PatternsDescending ChannelINDHOTELprobabilityTrend Analysis

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