Guessing chart patterns in Higher timeframes & then moving gradually to lower timeframes for Confirmation & Entry points.
Technical Indicators which I am using here is Moving average.
1. First looking at the weekly and daily timeframe, I confirmed that stock is trading above the Moving average. Also, there is an impulsive buying followed by some correction. This hinted towards a FLAG PATTERN.
2. To confirm the flag pattern and specifically the entry point, which will be candles breaking out the Moving Average line, I analyzed 4H and 1H timeframes.
3. Once I see a candle breakout at the Moving average line in an uptrend during a correction phase, I place my entry for BUYING.
** Setup stop loss and Target as per your own trading style**
Technical Indicators which I am using here is Moving average.
1. First looking at the weekly and daily timeframe, I confirmed that stock is trading above the Moving average. Also, there is an impulsive buying followed by some correction. This hinted towards a FLAG PATTERN.
2. To confirm the flag pattern and specifically the entry point, which will be candles breaking out the Moving Average line, I analyzed 4H and 1H timeframes.
3. Once I see a candle breakout at the Moving average line in an uptrend during a correction phase, I place my entry for BUYING.
** Setup stop loss and Target as per your own trading style**