BHEL trade ideas
Ascending Triangle : Waiting for BreakoutWe have an ascending triangle pattern in BHEL and I'm expecting upside breakout today but that means doubletop will fail & gladly yesterday I didn't enter doubletop. So I'm free to enter based on triangle on any directional breakout in Bhel
If you watch closely, we have double top formation with RSI divergence within triangle.
Ascending triangles breakout in upper direction in that case Double top will be failure. Rarely they breakout downside.
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Happy Trading !!
BHEL - TWO in one!BHEL : Two in one, not only did BHEL breakout of triangle but also it completed leg D of bearish cypher pattern, now that we have reversed with big candle, i expect stock to visit breakout point of triangle which is also 61.80% FIB retracement, should turn out to be good opportunity of buy, just keep a tab for learning!
