Awaiting Falling Wedge Breakout - Risk/Reward 1:6

2020년 5월 4일

Cadila Healthcare is in the uptrend in all time frames. Primary (Monthly), Weekly (Intermediate), and Daily (Short Term).

Trading Plans - An analysis without a proper trading plan is very much useless. It's trading that makes money, not fancy analysis.

Plan - A
On a daily chart, the price is trading in a rising channel, recent consolidation formed a falling wedge chart pattern.
Expecting price to breakout and continue its prior trend.

Entry - Above 338
Stop - 320
Target - 449
Risk-Reward 1:6

Plan - B
Take a long entry when price pullback to the prior resistance zone, which is a 290-300 price zone. I will update the trade accordingly if and when happens.

On a weekly chart, the price already broke a prolonged falling channel.



On a monthly chart, the Price went up in an impulsive wave after forming a double bottom and currently consolidating at 0.38% Retracement.



I will be updating this idea frequently as per the price behavior.
If you have any alternative analysis in Cadila Healthcare, do share in the comments.

Thank you,
EEz

2020년 5월 5일

액티브 트레이드

2020년 5월 8일

거래청산: 스탑 닿음

Cadila, Stop-loss hit. Any single tick below 320 is a stop-loss triggered. No Waiting, and No Watching.



Trading set-up is still tradeable once it's closes above 338 If 318 holds. I will buy it once again at 340.

Or else wait for lower levels at 290-300.