vanathi
Education

Ibulhsgfin

NSE:IBULHSGFIN   INDIABULLS HOUSING
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Price action is consolidating forming a descending triangle .
Comment: Nice fall :)
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Might want to try drawing a parallel channel there instead of playing the triangle , because it only a triangle till it isnt, Mostly flats
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@JDcft, Different people, different views. You can draw what pattern you see in chart. Only thing is, it should be helpful in your trading.
+1 Reply
@vanathi,
I agree fully with you here... Different people will see different patterns in the same chart..

The main goal should be that each person should be able to profit from it...
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Hi
In a descending triangle breakout is normally (or rather supposed to be) on the UPSIDE ??
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vanathi gregferns
@gregferns, Supposed break out should be down, but as you know share market is full of surprises :)
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Comment removed
Comment removed
@gregferns, Trianle breakout has 50% changes of upside and vice-versa, 50% chance for downbreak. Therefore trade setup should be after the break out only. Risk and Rewards is important while trading in 3 - triangle patterns. You can also check reliablity of Triangle from the other resources, as per my view : avoid trading on it or watch only triangle 3patterns.
+2 Reply
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