What is descending triangle ??
The descending triangle is one of the top continuation patterns that appears mid-trend. Traders anticipate the market to continue in the direction of the larger trend and develop trading setups accordingly.
The descending triangle is a bearish pattern that is characterized by a descending upper trendline and a flat lower trendline...
Ross Hook pattern (simple) explanation using Bank Nifty Daily chart :
We tried to explain Ross Hook pattern in a very simple way here taking Bank Nifty Daily chart as example.
Ross Hook pattern can be termed as an extension/correction/advancement (as per me) to 1-2-3 pattern. The difference which can be noticed is hook kind of formation after point 3 where...
Bank Nifty clearly making HL from top trendline and LH from bottom trendline. It is clearly down trend in 15mn. timeframe. Look at time and their candle stick pattern.
Prediction: Since there is Jackson Hole Event, chances are that market wont leave their position open. Hence, there are high chance that we see Bank Nifty down tomorrow. Further, 35600 is important support. Next support will be 35350-00. Below 35300 don't forget to short with SL 35375.
Pattern: An ascending triangle is a chart pattern used in technical analysis....
An Anchored VWAP (Anchored - Volume weighted Average Price) lets you make up an idea on whether the control of the market is on side of bulls or bears. Like the traditional VWAP, it incorporates price and volume in a weighted average and can be used to identify areas of support and resistance on the chart. Just like in intraday setup, a traditional VWAP lets you...
Currently Nifty Bank Has Fallen Like Anything. But Look At The Magic Of Harmonic . It Met With The 0.886 PRZ in And The Fall Has Stopped.
But In Case We Break That Level i.e 30600 And Close Below That In Daily Time Frame. We May Fall Till 29000 -28648.
But Chance Are Less As It Has Fallen Too Much. Now If You Choose To Look For Ultra Longs In Intraday Between...
NSE:BANKNIFTY
Hi Trader,
Follow Chart Instruction and do not be hurry for entry. Wait for proper entry setup for Buy/Sell.
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It is educational/learning purpose only...
Trade well,
Currently sitting at a support zone of 22280-22300. Break below this can take us to 22090. Above 22300 we have 22505, 22650. Have a look on the chart for the support and resistance levels.
Share your opinion in the comment section below, and like and follow for daily market analysis !
Professional Trader | Experience: 2.5 Years
NOTE: The above mentioned views...
Let's Learn and Earn. Elliot wave mostly if identified correctly helps in discovering important psychological levels.
Bank Nifty
Second waveform can start and wave 5 for previous wave form is complete with correction of ABC. Today's last 15 min start of new likely wave of Bank Nifty is beautifully mapped on 15min Chart for your consumption.
Also if it enters...
Hello,
BNF strong Demand zone @ 31500-31800 and nearest supply zone @ 30900-31050. Expiry is possible in this range.
Avoid short position tomorrow.
Thank X
Trade well
![BANKNIFTY: Science Backed by Data[Bank Nifty Series]: BankNifty new wave ?](https://s3.tradingview.com/d/Dp8mzokW_mid.png "Science Backed by Data[Bank Nifty Series]: BankNifty new wave ?")
