UTI Long Term View Bullish
I have marked swing highs, major trend line on the sport chart and the trend line in the MACD .
According to the price movements and my view
As It broke the trend line in the MACD , it indicates possible breakout
In confluence with this it formed cup and saucer pattern and along with this
We have a major support level , so this conclude it can give a possible breakout followed by touching the previous swing high
This is a suggestion : If you plan to trade and take advantage of the trend, tail the SL using ATR so you can enjoy the maximum moves.
Disclaimer: This is for educational purpose only. Any buy or sell is not recommended. Please do research and take your own risk.
According to the price movements and my view
As It broke the trend line in the MACD , it indicates possible breakout
In confluence with this it formed cup and saucer pattern and along with this
We have a major support level , so this conclude it can give a possible breakout followed by touching the previous swing high
This is a suggestion : If you plan to trade and take advantage of the trend, tail the SL using ATR so you can enjoy the maximum moves.
Disclaimer: This is for educational purpose only. Any buy or sell is not recommended. Please do research and take your own risk.
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