Bears got Upper hand in CROMPTON ??!!!
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Chart patterns just impressing me with the title stated above.
Reasons:
(with respect to weekly time frame)
1. Crompton is travelling(and respecting) in expanding triangle pattern.
2. Now, there is bearish flag formation and given breakdown with volume(shown in chart).
3. Breakdown candle is a bullish engulfing candle.
4. Purple line(315 level) can be considered for the target.(as it may turn to be a consolidation zone)
5. If purple line too broken(chances are high), then we can think about the next level target(will update)
6. Safe less risky SL can be Day candle closing above the flag(yellow line).
Let's wait and watch how it moves.
Note - Just Sharing my view....not a tip nor advice!!!
Reasons:
(with respect to weekly time frame)
1. Crompton is travelling(and respecting) in expanding triangle pattern.
2. Now, there is bearish flag formation and given breakdown with volume(shown in chart).
3. Breakdown candle is a bullish engulfing candle.
4. Purple line(315 level) can be considered for the target.(as it may turn to be a consolidation zone)
5. If purple line too broken(chances are high), then we can think about the next level target(will update)
6. Safe less risky SL can be Day candle closing above the flag(yellow line).
Let's wait and watch how it moves.
Note - Just Sharing my view....not a tip nor advice!!!
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good follow ups.تم فتح الصفقة
Moving as per levels !ملاحظة
Respecting the descending channel in daily time frame...أغلقت الصفقة: تم الوصول للهدف
be cautious...it is at the purple line....better to book profitand then we can enter if it clearly breaks the purple line!!!!(as said above)
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Clear breakdown of the Purple line shown!!!broke previous swing low....bears getting strong hold!!!
target can be 280
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280 done!!!265 can be next target!!!
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What a move!!!Finishing the pattern....NEARING THE MAJOR SUPPORT 240 RANGE!!!
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