APOLLO TYRES LTDלונג
Symmetrical triangle on APOLLOTYRE
APOLLOTYRE formed a symmetrical triangle pattern on daily chart. Price broke out of resistance line today. However it was not a strong breakout. Its better to wait for price to move above todays high and then enter. Stop loss can be had just below prior swing low with target all time high levels. Todays volume was also above average but not huge compared to other high volume candle on the chart so a cautious entry is required. This trade offers ideal risk reward of around 1:2.5.
Hope you like this idea. If you like, please boost this idea or leave a comment below on what you think. Otherwise, happy trading :-).
Hope you like this idea. If you like, please boost this idea or leave a comment below on what you think. Otherwise, happy trading :-).
"It's not whether you're right or wrong that's important, but how much money you make when you're right and how much you lose when you're wrong." — George Soros
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