PIOC on monthly TF, after making a Cup & Handle pattern has started its bull run in June 2023 which is still going strong.
RSI is almost in the same region since Nov 2023 and therefore it points to somewhat constant and upward buying sentiments in this SCRIPT. Also on monthly TF there is a hidden bullish divergence, which may cause a sudden pumping up of the price.
As per AB=CD pattern TP can be 364 and as per Cup&Handle pattern, TP can be 404 which is even higher.
Trade values:
Buy-1 : 291 (CMP)
SL: 260
TP1: 364
TP2: 404
RSI is almost in the same region since Nov 2023 and therefore it points to somewhat constant and upward buying sentiments in this SCRIPT. Also on monthly TF there is a hidden bullish divergence, which may cause a sudden pumping up of the price.
As per AB=CD pattern TP can be 364 and as per Cup&Handle pattern, TP can be 404 which is even higher.
Trade values:
Buy-1 : 291 (CMP)
SL: 260
TP1: 364
TP2: 404
Trade attivo
As analysed earlier hidden bullish divergence was present and exactly it caused the prices to pump up suddenly. This is the beauty of good technical analysis. Therefore, TP-1 has long been reached and TP-2 is very much in sight - close to psychological barrier of 400. One can close this trade now. If you like it then boost trading ideas by pressing ROCKET button, it acts as a motivation to continue sharing the knowledge.
Trade chiuso: obiettivo raggiunto
TP-2 reached. Happy trading.
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Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.