**** Educational Post: ASCENDING CHANNEL An ascending channel is the price action contained between upward sloping parallel lines. Higher highs and higher lows characterize this price pattern. Technical analysts construct an ascending channel by drawing a lower trend line that connects the swing lows, and an upper channel line that joins the swing highs. The...
Preface Alright, the operation started after creating an extreme low at 120.20. Price has created an upward channel from the extreme low, where the equilibrium has occurred between bull and bear traders. Control line has given eleven touches, which shows the strong gravitation at the middle. Here, we can see four reversals on the upper band, and three reversal...
In this " Research Report " we're going to be looking at the "Flat correction". As you know, with respect to the Wave Principle, there are three types of Corrections. 1. Zigzag 2. Flat and, 3, Triangle We're going to examine the Flat now. The first thing that's important about this pattern here is being able to identify its characteristics. First is, its...
On the price chart can be draw in parallel lines. For example, prices come right in front of you. If this is accurate and if I call the channel of the true value you draw. No, see if it is contained by parallel lines. It is a reasonable price, the price of the action counter train is contained by the action parallel mind, so if the price action is not contained...
Let's talk about each waves of Triple Zigzag: Wave W (5-3-5) impulsive: ((a)) = ((b)) at 17709 which is close actual low 17613. Its a sharp zigzag. Wave 1X corrective: Wave ((b)) 3-3-5, Running Correction which is little complex. Wave Y (5-3-5) sharp: ((a)) = 0.786 ((b)) at 16824 which, is very near actual low as 16782 Our first question is, What is the...
I tried putting Elliot wave label on Asian paint daily,weekly and monthly chart and couldn't come to any logical conclusion,as the uptrend didnt followed any fib rule's neither did any major swing have an internal structure similar to elliot pattern cumulatively which could make an elliot pattern. Never the less i have shown channel on the monthly chart which...
Nifty has been in the parallel channel for quite some time and has completed the 5th Elliot wave. We are likely to see a zig-zag correction where wave A is completed. Wave B is most probably the last bull run we'll see ahead of Diwali. The support line of the parallel channel is likely to be broken and I'm expecting a sharp correction in nifty (wave C) to 17000...
Aarti Ind. ltd. This stock has taken Resistance twice at same level, then it consolidated as a parallel channel at that same zone, and then it given good breakout from parallel channel along with good intensity of volume, Now it has retraced almost 78.6%, co-incidentally (1) same resistance zone, (2) Parallel channel's top, (3) Support trend line and (4) 200...
Elliot Rules and guideline 1)Wave 2 should not retrace entire wave 1(Here on cycle degree it retraced wave 1 by 61.8% which is ideal as per guideline) 2)Any one wave entend's other 2 by 161.8%,other 2 being equal in length(As per guidelineTypically wave 3 extend's and 1 & 5 tends towards equality).Here also Wave 3 extend's wave 1 by 161.8% and wave 1 and 5 tends...
Channel patterns and triangle patterns just consist of support and resistance lines. In a channel pattern, support and resistance lines are "parallel". For a resistance or support line to be valid or strong there should be at least 3 touchpoints. In the given chart, there are more than 4 points each that touch the resistance line and support line. In all 3...
WaveTalks - Nifty: Channel Trading Strategy There are three (3) types of channels: 1. Ascending Channel (higher highs and higher lows) 2. Descending Channel (lower highs and lower lows) 3. Horizontal Channel (ranging) ------------------------- Ascending channel ------------------------- An Ascending channel is a pattern formed from two upward trendlines drawn...
A throwback is the retracement that occur follow a breakout of resistance line and take support on that respected resistance which just broken, and turned into support. Throwback may provide a second entry opportunity if the initial breakout trade was missed. Some traders prefer to buy on the throwback.
Markets often move in Channels be it range bound, Strong Up or Down. Channel helps to project direction and next reversal points. Combine Channels with one of momentum indicators MACD / RSI then spot divergences and channel moves will start making sense. Details are added on chart. Happy Learning.
Bank nifty is approaching Raising upper channel line on hourly chart.In past it has reversed from this line on 4 occasion bringing back prices to the median line of raising channel. Any in the money long trades should be protected with stop-losses as prices can reverse sharply once we get reversal candle near upper channel line.
NIFTY Media is being traded in a channel pattern for past 1½ years and now it is trading near to the resistance. I do think there might be a good up move in Media scrips, so if there is a breakout then do have an eye on Media scrips.
CHANNEL PATTERN :- It is nothing but a formation of two almost parallel lines between which the stock oscillates. Channel can be of 3 types : 1) Horizontal Channel 2) Rising Channel 3) Falling Channel It is a constant fight between bears and the bulls and victory is decided by the breakout or breakdown of the channel pattern. Bulls wins the fight if breakout...
Price cosoldate in Parallel channel , now channel break out with good volume 👍
CESC : It has formed channel pattern ( slightly ascending) for 400+ days and it gave breakout on 07 june 2021. The stock is now retesting its resistance line, if the retest is successful it can give a strong up move at least equal to the breadth of the channel . Feel free to share your views/feedback, also let me know in the comments if you liked my analysis on this stock.