After a breakout move above 36700, we saw a PIN BAR buy signal (learn : PIN BAR strategy) to be formed on a retest of it's flip support or prior breakout area(learn : FLIP level strategy).After a retracement entry in the PIN BAR signal, we see price reaching near it's short term minor resistance of 37700 where we'll trail stoploss to our entry level & will sit tight for the major resistance target of 40550. As you see on chart, i marked higher lows formed alongwith prior swing support before the breakout took place which we use to predict an early sign of an upcoming breakout.I'm writing an article on this topic for next week where i've explained some signs showing you the sign of an upcoming breakout.
(GET FOLLOW-UP UPDATES OF THIS POSTED TRADE SETUP TODAY IN FACEBOOK PAGE ONLY)
SUMMARY : READ price momentum context – RECOGNIZE the pattern going on – TRADE the pattern till it ends and to learn it all join me in my MEMBER FORUM & trade with me real-time using higher & lower timeframe charts.
PLS NOTE : All chart analysis posted here are the author's own idea of trading for educational purpose only & not any form of advice or recommendations or opinion to anyone.
READ last Trading Lessons : Learn to draw swing lines on price chart