This analysis is on request of one of our followers.
Page industries on 15 min has formed a Descending triangle. Now the most confusing part of this price action pattern is that, it’s neither a reversal pattern or continuation pattern but in fact it’s called NEUTAL PATTERN, which means that this pattern can give a breakout or a breakdown or in simple words in can break upward approach downward & traders have to be ready to trade to the respective trend. The target is usually similar to the middle range price area of triangle.
Page has already given a breakout and achieved the given target set by the chart pattern. We suggest to hold on for some days & let the big players come in and take Page out of range market( haven’t entered yet, but it might end up in range).
Page industries on 15 min has formed a Descending triangle. Now the most confusing part of this price action pattern is that, it’s neither a reversal pattern or continuation pattern but in fact it’s called NEUTAL PATTERN, which means that this pattern can give a breakout or a breakdown or in simple words in can break upward approach downward & traders have to be ready to trade to the respective trend. The target is usually similar to the middle range price area of triangle.
Page has already given a breakout and achieved the given target set by the chart pattern. We suggest to hold on for some days & let the big players come in and take Page out of range market( haven’t entered yet, but it might end up in range).