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...
Hi traders the chart is self-explanatory for more information on physiology you can refer to google. i took this trade personally sorry for not posting but hope you made some good money in my previous post based on channel pattern which would have made you approx 35 % within 2 weeks.
A breakout trade will work almost right away from the start, if the breakout happens with huge momentum and then you see Doji candles or hammer then there is a problem with follow-up. A bullish breakout must always be accompanied by a good follow up, else it cannot sustain. Bullish breakout needs good bullish candles, not Doji. Note-As soon as you enter a...
As can be seen, when HUL is consolidating initially through triangle pattern between 1900 and 2040 and then there is a breakout. This will be the stl 2040 with the target at 2500 (all time high).
1. Symmetrical triangle 2. Declining volume 3. Breakout near ~2500