Swing opportunity on POWERGRID
Hope you all recovered from huge swings for the past couple of days. I recently happen to find a swing opportunity on POWERGRID daily chart where price is moving between a ascending channel. Price is at support level with the formation of double wick on the bottom indicating there is a strong buying pressure at this level. Once can enter just above todays high with a stop loss just below todays low. Target can be at the next resistance level. This trade offers an ideal risk reward at around 1:2.5.
Hope you like this analysis. If you think it was helpful please boost this idea or leave a comment down on what you think. Otherwise happy trading :-)
Hope you like this analysis. If you think it was helpful please boost this idea or leave a comment down on what you think. 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.