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HINDUSTAN UNILEVER the FMCG giant in hourly time frame is forming another ascending and inverted scallop bullish formation.
Ascending & Inverted Scallops have a success ratio of approx 70%. They are found in bullish trends and their formation works wonderfully with Fibonacci ratios as found in this case.
It looks good for 2700 as long as it does not break below 2590.
Good risk reward set up as FMCG stocks appear to be in a strong uptrend.
Good Luck and Happy Investing
HINDUSTAN UNILEVER the FMCG giant in hourly time frame is forming another ascending and inverted scallop bullish formation.
Ascending & Inverted Scallops have a success ratio of approx 70%. They are found in bullish trends and their formation works wonderfully with Fibonacci ratios as found in this case.
It looks good for 2700 as long as it does not break below 2590.
Good risk reward set up as FMCG stocks appear to be in a strong uptrend.
Good Luck and Happy Investing
Trade closed: stop reached
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