Since August, fractal similar to May month is forming. This fractal is of 3 months (May to July) length and repeats after 3 month (August to October). Fractal holds similarities in price action like continuous rise in price for days, sudden big price fall, low and high in pattern are at same arrangement. This same pattern follows from October onwards.
If the market is pulling towards upside direction with less magnitude towards downside direction we can call it as an uptrend.
Characteristics of an uptrend:
1) Higher High and higher low pattern in the swings
2) Less magnitude in secondary swings or downside swings in this case
Hope this helps:)
Author of Mastermind of Day Trading
Triangle with flat top at 6340-6360 was observed on Nifty during 2008-2013. That almost coincides with UPA II. A break out happened in March 2014 to achieve exact 61.8% level at 9120. I'm excited because this is the first triangle I am trying to interpret, and it gave very encouraging results.
What makes this interesting are the break-out attempts as soon as...