I would like to start a new series for Technical Analysis Fundamentals. My first post will be about “Triangle Formations”. I am also happy to inform that I will share real time examples within my blog. I hope you will enjoy. Let’s start!
In Monetha Case, the resistance level is at 2280. Notice the break out at 2280 with high volume. That's is the time to "buy" Monetha. The price reach Its target (2500) and even goes more.
Once you buy above 2280 (Let's say you bought at 2400) then you should also place a stop loss underneath of the old resistance level (2280) Once Resistance level is passed It becomes a support level :)
As Always, I would like to remind Trend is your best friend :) As long as the price stays above the moving average It represents an “Upward” Trend. As long as the price stays below the moving averages It represents an “Downward” Trend.
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