Adani Ports - the 42 weeks of price consolidation in a symmetrical triangle has decisively broken out for the open target of 1010 https://t.co/vGyAGlwKCw
Adani Ports - updated chart. Fast forward & the stock is almost at the same level. However, the symmetrical triangle met its target exactly and became a part of a major triangle.
— The_Chartist \U0001f4c8 (@charts_zone) December 14, 2021
What makes it interesting is support is also 200 MA which adds another confluence point https://t.co/Tx52lzy9ZV pic.twitter.com/Cq67WNCHS3
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Jubilant Ingrevia - Key learning?
It is important to analyse the strength of the breakout. If the price does not continues the move in 1 or 2 sessions and candles show long upper wicks, it is better to bring the SL closer. Distribution sign.
Will be helpful in next breakouts. https://t.co/AtZOj4bKeT
It is important to analyse the strength of the breakout. If the price does not continues the move in 1 or 2 sessions and candles show long upper wicks, it is better to bring the SL closer. Distribution sign.
Will be helpful in next breakouts. https://t.co/AtZOj4bKeT
Learning: Strong breakout
— The_Chartist \U0001f4c8 (@nison_steve) July 2, 2021
1. Breakout candle will have no upper shadow or extremely less compared to the body
2. Volumes will be high (to avoid retailers to enter & also big hand absorbing all the selling)
3. Pullbacks will be rare/very less
4. Happens after a long consolidation pic.twitter.com/YTHDOnEdxo