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Awaiting Falling Wedge Breakout - Risk/Reward 1:6

ที่อัปเดต:
Cadila Healthcare is in the uptrend in all time frames. Primary (Monthly), Weekly (Intermediate), and Daily (Short Term).

Trading Plans - An analysis without a proper trading plan is very much useless. It's trading that makes money, not fancy analysis.

Plan - A
On a daily chart, the price is trading in a rising channel, recent consolidation formed a falling wedge chart pattern.
Expecting price to breakout and continue its prior trend.

Entry - Above 338
Stop - 320
Target - 449
Risk-Reward 1:6


Plan - B
Take a long entry when price pullback to the prior resistance zone, which is a 290-300 price zone. I will update the trade accordingly if and when happens.

On a weekly chart, the price already broke a prolonged falling channel.

สแนปชอต

On a monthly chart, the Price went up in an impulsive wave after forming a double bottom and currently consolidating at 0.38% Retracement.

สแนปชอต

I will be updating this idea frequently as per the price behavior.
If you have any alternative analysis in Cadila Healthcare, do share in the comments.

Thank you,
EEz
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Cadila, Stop-loss hit. Any single tick below 320 is a stop-loss triggered. No Waiting, and No Watching.

สแนปชอต

Trading set-up is still tradeable once it's closes above 338 If 318 holds. I will buy it once again at 340.

Or else wait for lower levels at 290-300.
Chart PatternscontinuationpatternsFalling WedgeTrend AnalysisWave Analysis

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