KML Unorthodox Buy Call for Advanced Traders
KML has been trading in a channel marked in light blue, ranging from PKR 20 to PKR 57 since January 2017. After a bearish trend in a yellow channel and an accumulation phase in a blue channel for around six months, KML gave a powerful breakout, creating a massive Institutional Demand Zone (IFTC) and several bullish effigies.
🚨 BUYING STRATEGY – KML🚨: We'll buy KML at the closing price of each day, starting with today's closing price. If the price keeps going lower, we'll continue buying at the close of each day till the price reaches PKR 40. If the price instead of going lower goes up, we'll keep purchasing till the price reaches PKR 53.
Target Prices:
- TP1 (valid if price reaches PKR 40): PKR 49.95
- TP2: PKR 54.64
- TP3: PKR 59.97
Stop Loss below PKR 31.9
Risk-reward ratio of 1:3.
Caution: Please buy in 3 parts in buying range. Close at least 50% position size at TP1 and then trail SL to avoid losing incurred profits in case of unforeseen market conditions.
PLEASE BOOST AND SHARE THE IDEA IF YOU FIND IT HELPFUL.
KML has been trading in a channel marked in light blue, ranging from PKR 20 to PKR 57 since January 2017. After a bearish trend in a yellow channel and an accumulation phase in a blue channel for around six months, KML gave a powerful breakout, creating a massive Institutional Demand Zone (IFTC) and several bullish effigies.
🚨 BUYING STRATEGY – KML🚨: We'll buy KML at the closing price of each day, starting with today's closing price. If the price keeps going lower, we'll continue buying at the close of each day till the price reaches PKR 40. If the price instead of going lower goes up, we'll keep purchasing till the price reaches PKR 53.
Target Prices:
- TP1 (valid if price reaches PKR 40): PKR 49.95
- TP2: PKR 54.64
- TP3: PKR 59.97
Stop Loss below PKR 31.9
Risk-reward ratio of 1:3.
Caution: Please buy in 3 parts in buying range. Close at least 50% position size at TP1 and then trail SL to avoid losing incurred profits in case of unforeseen market conditions.
PLEASE BOOST AND SHARE THE IDEA IF YOU FIND IT HELPFUL.
Trade closed: target reached
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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.
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.