NIFTY1!
Chart Pattern : Descending Triangle
In descending triangle chart patterns, there is a string of lower highs that forms the upper line. The lower line is a support level in which the price cannot seem to break.
Descending Triangle Chart Pattern
In the chart, you can see that the price is gradually making lower highs which tells us that the sellers are starting to gain some ground against the buyers.
Now most of the time, and we do say MOST, the price will eventually break the support line and continue to fall.
However, in some cases, the support line will be too strong, and the price will bounce off of it and make a strong move up.
The good news is that we don’t care where the price goes. We just know that it’s about to go somewhere.
In this case, we would place entry orders above the upper line (the lower highs) and below the support line.
Disclaimer.
I am not sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.
Charts Are posted for Educational Purpose only it's not Recommendation.
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Nifty Falling Exactly in the Channel..