johntradingwick

HCL Technologies: Ascending Triangle formation

NSE:HCLTECH   HCL TECHNOLOGIES
Key Highlights:

-Moving in ascending triangle
-Testing the previous swing high(Most probably it will fail to breakout)
-Bullish Market structure
-Buy only above 1055 if there is volume expansion

Disclaimer: This is NOT investment advice. This chart is meant for learning purposes only. Invest your capital at your own risk.

Comments

Turned out to be a successful breakout. Any ideas on how to proceed now?
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You rocked this one!
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So if ascending Triangle forms in any chart can we assume bullish move? is it correct or wrong? pls tell.
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johntradingwick RajaSekharVelisetti
@RajaSekharVelisetti, In general, the ascending triangle is considered a bullish pattern. It has a higher probability of breaking to the upside as compared to the downside. Sometimes, it may break to the downside too, but the chances of breaking to the upside are far more.
+6 Reply
RajaSekharVelisetti johntradingwick
@johntradingwick, Thank you
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johntradingwick RajaSekharVelisetti
@RajaSekharVelisetti, No worries, man.
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sir, could you please be checking on cryptocurrency too???
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johntradingwick EinsfardGlobe
@EinsfardGlobe, Sorry, I don't trade crypto now. Hence, I don't find it useful to post on it.
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Why it will fail sir ?
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johntradingwick mishraraj827
@mishraraj827, The momentum seems to be fading. You can notice the weak candles in the past few sessions. I may be wrong though.
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