ICIL : Ascending Traingle Breakout with high volumes

10 Jan 2018

ICIL Breakout has occurred on daily charts from ascending triangle with high volumes.
As per measured move we can see a target of around 30 points ie 160 levels.But as the price is very near but below its 200 period EMA and support turned resistance zone at 135 , it may see some consolidation or throwback to breakout levels. So we can put this script in radar for coming days for a better opportunity.

11 Jan 2018

Catatan

formed a shooting star on daily charts ,testing the 200 ema, now may test the 130-125 levels where we can get good entry for longs.
Also if the price breaks today`s high ie 138.85 , in the next session momentum traders can go long.

16 Jan 2018

Catatan

As today the price has taken support on the lower trendline of the ascending triangle , the trade is still vaild and also if tomorrow the market stays positive we can have a low risk trade .But if the price closes below the triangle, then will have a busted pattern which will act as a continuation of the prevailing downtrend.
Overall the script has become more interesting to have in watchlist