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
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
premanandh
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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
can you please share the reference you gave, " technical analysis by john murphy", I want to learn trend trading, it will be helpful,
thanks