premanandh

chart pattern recognition

NSE:GODREJIND   GODREJ INDUSTRIES
263 views
3
hi my fellow traders . . today i came across a chart pattern falling wedge on daily and weekly charts in godrej industries, initially the stock was in uptrend following which the stock formed falling wedge on both daily and weekly charts currently the markets are in the centre of wedge . .try not to trade at these levels. . if the markets reaches 600 levels the market may return down to the lower part of wedge . .or if u wait for the breakout of upper line of wedge . .if it breaks then its going for uptrend. . ( usually a falling wedge breaks on upside - ref: technical analysis by john murphy ) if u find this idea rational useful or stupid pls do sent me u r message views are always welcome

Comments

thanks for the analysis. as predicted by you, it broke the upper band of the channel, ready for the up move further.
can you please share the reference you gave, " technical analysis by john murphy", I want to learn trend trading, it will be helpful,
thanks
Reply
there has been a break above the upper channel line of falling wedge by todays candle (15-6-18 ) one can see opportunities to buy at these levles and keeping targets as the base of wedge or triangle . . if any body find this idea useful, stupid , or excellent please comment and will be happy to interact with my fellow traders
Reply
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