GENUS POWER ðŊ100. 1:5 RR PLAY ðĨð
āļāļĩāđāļāļąāļāđāļāļ:
GENUSPOWER is moving in 2 patterns: A parallel channel and an expanding channel pattern, with the latter being the bigger pattern.Price did breakout out from the channel 2 times but witnessed big selling pressure, leading to formation of the expanding channel pattern.
C.M.P is running near the trendline support and the resistance of the parallel channel.
Risky traders can enter now at 70-71 levels, placing stop loss below the trendline and go for a 5:1 RR play. (Add more quantity if price takes one more support from trendline.)
Safe traders wait for price to breakout of the parallel channel pattern and enter, adding more quantity after retrace.
Targets: 80/95/100+
Sl: below 63
BEWARE OUR ANALYSIS CAN ALWAYS GO WRONG. A BREAKDOWN CAN ALSO HAPPEN, HENCE THE STOPLOSS.
TIP: Follow stoploss on closing basis instead of open market hours.
Position size accordingly. HAPPY TRADING!
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Price attempting to breakout from minor channel pattern. Track closely.
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