On July 7, 2023, the MEBL chart displayed an inverted hammer candlestick pattern, indicating potential bullish reversal. Here's a trade setup based on this pattern:
Entry Point: 99
Stop Loss: 86
Take Profit Targets:
TP1: 112 (Risk-Reward Ratio 1%)
TP2: 125 (Risk-Reward Ratio 2%)
TP3: 138 (Risk-Reward Ratio 3%)
TP4: 151 (Risk-Reward Ratio 4%)
The inverted hammer candlestick pattern is characterized by a small body and long upper shadow, suggesting a shift from bearish to bullish sentiment. Traders can consider entering a long position at the specified entry point with a stop loss set below the pattern's low to manage risk.
On April 3, 2024, MEBL chart displayed a Bullish Hammer candlestick pattern. Here's a trade setup based on this pattern:
Entry Price: 213
Stop Loss: 195
Lot Size: 55.56 on Rs100,000 account
Take Profit Targets:
TP1: 231 (Risk-Reward Ratio 1%)
TP2: 249 (Risk-Reward Ratio 2%)
Entry Point: 99
Stop Loss: 86
Take Profit Targets:
TP1: 112 (Risk-Reward Ratio 1%)
TP2: 125 (Risk-Reward Ratio 2%)
TP3: 138 (Risk-Reward Ratio 3%)
TP4: 151 (Risk-Reward Ratio 4%)
The inverted hammer candlestick pattern is characterized by a small body and long upper shadow, suggesting a shift from bearish to bullish sentiment. Traders can consider entering a long position at the specified entry point with a stop loss set below the pattern's low to manage risk.
On April 3, 2024, MEBL chart displayed a Bullish Hammer candlestick pattern. Here's a trade setup based on this pattern:
Entry Price: 213
Stop Loss: 195
Lot Size: 55.56 on Rs100,000 account
Take Profit Targets:
TP1: 231 (Risk-Reward Ratio 1%)
TP2: 249 (Risk-Reward Ratio 2%)
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.
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.