GENUS POWER 🎯100. 1:5 RR PLAY 🔥📈
GENUSPOWER is moving in 2 patterns: A parallel channel and an expanding channel pattern, with the latter being the bigger pattern.Price did breakout out from the channel 2 times but witnessed big selling pressure, leading to formation of the expanding channel pattern.
C.M.P is running near the trendline support and the resistance of the parallel channel.
Risky traders can enter now at 70-71 levels, placing stop loss below the trendline and go for a 5:1 RR play. (Add more quantity if price takes one more support from trendline.)
Safe traders wait for price to breakout of the parallel channel pattern and enter, adding more quantity after retrace.
Targets: 80/95/100+
Sl: below 63
BEWARE OUR ANALYSIS CAN ALWAYS GO WRONG. A BREAKDOWN CAN ALSO HAPPEN, HENCE THE STOPLOSS.
TIP: Follow stoploss on closing basis instead of open market hours.
Position size accordingly. HAPPY TRADING!
Transaction en cours
Price attempting to breakout from minor channel pattern. Track closely.
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Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.