TATASTEEL : Waiting for a reversal pattern to book profits.

If we look into the previous price action of TATASTEEL, we can see that before each major reversal move, there was an ascending channel formation. Price never underwent a drastic reversal as soon as it reached an inflection point.

So, I'm expecting the same to happen going forward and am looking for the price to form an ascending channel pattern at any of the major inflection points. This would be an indication that the price might crash afterward. If such a scenario occurs, I may consider closing my position.

Trade closed manually:

As expected, price formed an ascending channel pattern and hence I closed the positions manually as planned.

Closed at 132.20.

Booked a profit of about 25.67%.