Rectangle Pattern

Launch Chart
KUNAL KAMBLE
BPMC
·
May 28 2023
snapshot
The Security is trading in a range. The security is consolidating between 60.30-51.30 we need to wait for the security to break beyond this level, if the Pair is able to break on either side, following are the conditions which need to be followed.

Condition 1.
If the breakout is on the upside the Pair has to close above 60.30 levels, wait for one candle to close above this level, if it is able to close above the mentioned level start buying.
If the RSI is trading above 73 ignore the breakout.

Condition 2
If the breakout is on the downside the Pair has to close below 51.30 levels, wait for one candle to close below the level, if it is able to close below the mentioned level start selling.

Advice : Trade as Per Breakout