Archean chemical since Feb'23 multiple times has tested resistance of 680/677. A day close above this level can bring fast movement and take this towards 1)716 2) 733 3)772 4) 813 5) 855 6) 862 7) 915(imp level). Once 855 is crossed I will bring trailing sl of remaining quantity at 772/813 and will try to ride the trend. Since chemical sector is currently under pressure it can take some time to give meaningful return so patience will be the key. If after breaking out above 680 it goes below 590 then it will lose its steam which will be exit sign for me.
Trade active
target 1 & 2 achieved. Now keeping SL at 625 will make senseTrade closed: stop reached
TSL of remaining qty hit at 625 so for time being trade closed. Will think of entering again once it will cross its previous week high
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.