Long
CENTURY TEXTILE : Risk/Reward 1:6
Long Centurytex
Entry 490
Stop-loss 473
Target 590
Risk/Reward 1:6
I explain more about my analysis later in updates.
Entry 490
Stop-loss 473
Target 590
Risk/Reward 1:6
I explain more about my analysis later in updates.
Note
Bullish Flag Breakout.One thing i hate about all the chart patterns is placing a stop-loss at the pattern lows. That spoils a RR Ratio.
Bullish Flags are continuation patterns it assumes that the prevailing trend will continue after the breakout.
So why keeping stop-loss at the pattern low?
If the trend is strong then breakout will be as strong as a trend too.
I don't applying a re-test theory in my trading with short term patterns
Trade active
It looks like a pullback is completed, and now ready to continue on going up-trend with a flag breakout.We are trading probabilities, we can't predict future prices, but we can trade what is probable as per our learning and experience.
Note
Centurytex 513 trading at 0.618% retracement. Closing above 0.618& re will be a good bullish sign.Trade closed: target reached
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.
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.