NMDC LTD.Long
Head and shoulder formation on NMDC
NMDC formed a head and shoulder pattern on daily chart. Price is about to breakout but please wait for clear breakout with strong close before you enter. When forming the head price was falling heavily but not with much volume. This indicates sellers are not willing to sell at these lower price. Stop loss can be held just below right shoulder with a risk reward of around 1:2.
Hope you like this idea, if you like, please boost the idea or leave a comment below on your thoughts. I'll be glad to hear from you. Otherwise happy trading :-)
Hope you like this idea, if you like, please boost the idea or leave a comment below on your thoughts. I'll be glad to hear from you. Otherwise happy trading :-)
"It's not whether you're right or wrong that's important, but how much money you make when you're right and how much you lose when you're wrong." — George Soros
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.
"It's not whether you're right or wrong that's important, but how much money you make when you're right and how much you lose when you're wrong." — George Soros
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.