Inverse Head And Shoulders Pattern in IndusInd Bank Hourly
Inverse Head and shoulders pattern formed in IndusInd Bank in hourly TF
Breakout already done and one can initiate long position around 975 - 978 during retest and SL as slightly below RSH mentioned in chart target of 1035 - 1040.
1. IHS neckline breakout done
2. Breakout with good volume
3. RSI above 60 level
4. Multi year support after breakout
5. Closing the position at target price or TSL would be better risk reward(1:2)
Note: Its my personal idea and not for anyone to trade based on above
Breakout already done and one can initiate long position around 975 - 978 during retest and SL as slightly below RSH mentioned in chart target of 1035 - 1040.
1. IHS neckline breakout done
2. Breakout with good volume
3. RSI above 60 level
4. Multi year support after breakout
5. Closing the position at target price or TSL would be better risk reward(1:2)
Note: Its my personal idea and not for anyone to trade based on above
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