reshmi_chauhan1

How to trade descending triangle pattern....??

NSE:HINDUNILVR   HINDUSTAN UNILEVER
HINDUSTAN UNILEVER is making descending triangle in 30 min time frame.

The descending triangle is a bearish formation.
It is usually forms during a downtrend as a continuation pattern.
There are instances when descending triangles form as reversal patterns at the end of an uptrend, but they are typically continuation patterns.

Most traders look to initiate a short position following a high volume breakdown from lower trend line support in a descending triangle chart pattern.
In general, the price target for the chart pattern is equal to the entry price minus the vertical height between the two trend lines at the time of the breakdown.
Comment: don't take any action now.
Comment: sell nearby 1973-1967
stop-loss 1982 nearby
target 1954-1943 near
Trade active
Trade closed: stop reached

Comments

nice work. but please mention the levels from where we have to take trade. from the above chart posted here all of us miss the chance to short the unilever @ 1995-2000 level. now as per your prediction it is heading towards 1970-1975 zone if i am not wrong. so you are suggested buying position here or we will see more down fall. please mention the level of trade. excellent work. keep it up
+22 Reply
moneypoppy9033 HarshitGandhi96
@HarshitGandhi96, I think wait more to buy.
+4 Reply
aman3101998 moneypoppy9033
@moneypoppy9033, sure. Got your point
+1 Reply
Khufra HarshitGandhi96
@HarshitGandhi96, I agree with you
+3 Reply
Leonardus300 HarshitGandhi96
@HarshitGandhi96, I concede with you
+1 Reply
reshmi_chauhan1 HarshitGandhi96
@HarshitGandhi96, Thanks dear, wait for the conformation point.
Reply
zartajshaikh HarshitGandhi96
@HarshitGandhi96, yes he should discribe more in details
Reply
charanraveendra HarshitGandhi96
@HarshitGandhi96, i think when new candle forms down the support line, that would be safer for entry
Reply
good work
+1 Reply
I predicted the right move , watch my analysis. Thanks :)
Reply
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