Sarthak_Singh
Long

Figuring out direction of a stock ft. ACC

NSE:ACC   ACC LTD
55 views
2
Look for any previous pattern and see how the stock reacted.

We have a Flag Pattern (in a blue dotted line) which was executed very theoretically. It also gave us an idea of the direction of the stock. (This won't always be precise although)
The stock went into an Ascending Triangle Pattern after that and is close to giving a Break-out/down.

We have not more than 3 probabilities here.
The stock either goes up, goes down, or goes sideways.
But then that's the story of the markets. What is the need of studying these chart patterns?

Chart Patterns & Indicators only help with increasing the probabilities of a possibility.

and they still won't work 10-20% of the time. But that's where all the risk lies. In betting against a probability which is more favorable to you.

Now ACC has increased its probability of giving a breakout.
1. Flag Pattern
2. Ascending Triangle Pattern

Indicators aren't indicating anything at the moment.
That's why we have Thresholds to give a clear signal before executing our trade.

Comments

Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out