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TATAPOWER Symmetrical Triangle Formation

NSE:TATAPOWER   TATA POWER CO LTD
  • The Symmetrical Triangle Chart Pattern indicates an ongoing period of price consolidation before the prices breakout.
    A bullish symmetrical triangle is a bullish continuation chart pattern, the movement preceding the triangle’s formation must be bullish .
    On the other hand, A bearish symmetrical triangle is a bearish continuation chart pattern, the movement preceding the triangle’s formation must be bearish .
    The symmetrical triangle pattern is different from a descending or ascending triangle pattern as both triangles’ lower and upper trend lines slope towards the center point.
    A horizontal upper trendline is formed in ascending triangles that predict a higher breakout.
    With a descending triangle , a horizontal lower trendline is formed that predicts a lower breakout.

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