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Varun113311
Jan 4, 2022 10:51 AM

Falling wedge on UJJIVANSFB 1W - great time to buy  Long

UJJIVAN SMALL FINANC BANKNSE

Description

The Falling Wedge is a bullish pattern that begins wide at the top and contracts as prices move lower. This price action forms a cone that slopes down as the reaction highs and reaction lows converge. In contrast to symmetrical triangles, which have no definitive slope and no bias, falling wedges definitely slope down and have a bullish bias. However, this bullish bias cannot be realized until a resistance breakout occurs.

My idea is to take the RSI into account which is breaking out the trend line.

Trade closed manually

closing at 2 RS loss per share
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Varun113311
17 to 25
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