Horizontal Support line and falling resistance line. Minimum there should be 5 touches in pattern to be called a successive Pattern.

Upward Breakout Performance, failure rate is 9% which is exceptional, Volume during the pattern is rising, Volume during breakout is irrelevant, Performance of the pattern is at upside breakout is great.

Downward Breakout Performance, failure rate is 27% almost breakeven, Volume during the pattern is declining, Volume during breakout is desirable, Performance of the pattern at downward breakout is not so successful.

If the stock breaks at the upside we will go forward with the trend, if the breakout is on downside we can go forward but the risk is comparatively high.

If the breakout is on the downside we can maintain a SL nearby so that the risk would be favorable.

Opportunity Nearby

Jul 29 2021

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