Dear All,
As I said earlier I like to trade best setups mostly positional trades.
Another great setup is there now with Century Textile which has made a “DIAMOND PATTERN”
Be alert for the Breakout!
Trade setup will be –
Sell below 1285 SL 1305 Target 1265-1255-1240
Buy above 1300 SL 1285 Target 1315-1325-1340
Learning here – DIAMOND PATTERN
A diamond pattern is composed of support and resistance levels. In case of breakouts of a diamond chart pattern, the line through the support points is broken. A diamond Pattern can be Bearish or Bullish. It can be a identified as a continuation or reversal pattern of a prior trend.
Identifying the reliable breakout of any pattern is very crucial in successful trading. We generally know two rules of reliable breakouts. Firstly, a reliable breakout happens when a candle opens out of the area. Secondly, the volume should be increased when the breakout takes place.
Disclaimer
I’m not a SEBI Registered Investment Advisor. Above Views are only for Educational Purpose. Equity, Commodity & Currency Trading has large potential rewards, but also Large Potential Risk. You must be aware of the risk and willing to accept them in order to invest in the markets. Don’t trade with the money you can’t afford to lose. This page is neither a solicitation nor an offer to acquire/sell any script. Please consult your financial advisor to take appropriate investments as per your risk profile. The past performance of any investments is not an indication for future returns.
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