Hello Friends,
Here we had shared Educational purpose post to understand & to master the Symmetrical Triangle chart pattern with real example on chart of the stock MARUTI.
Symmetrical Triangle Chart Pattern
A symmetrical triangle is a common chart pattern used by traders and investors to predict where the price of a stock or asset might go next.
What It...
Triangles are very common and promising patterns. Normally they are considered as continuation patterns in the direction of prevailing trend. I am presenting here three useful entry techniques. None is better than the other and each one has its own strengths and weaknesses.
ANTICIPATION SETUP
As the name suggests, the trade is taken before the triangle...
The Symmetrical Triangle is usually a continuation pattern. It represents a pause in the existing uptrend after which the original uptrend gets resumes. A breakout from the upper trend line marks the continuation of an uptrend while a breakdown from the lower trend line marks the start of a new bearish trend . This pattern is also known as a wedge chart pattern.
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A symmetrical triangle is a chart pattern characterized by two converging trend lines connecting a series of sequential peaks and troughs. These trend lines should be converging at a roughly equal slope.
1. Symmetrical triangles occur when a security's price is consolidating in a way that generates two converging trend lines with similar slopes.
2. The breakout...
Prints when the market is indecisive. Price market higher lows & lower highs. It is the situation where supply and demand are near to equal. The trading range becomes smaller and smaller within the triangle. It represents a pause in the exhausting trend after which the original trend is resumed.
1) The minimum requirement for a triangle is four reversal points....
Looks like a triangle breakout in IGL on Day Chart with good risk to reward ratio.
All levels are mentioned in the chart.
BUY at CMP (525) WITH SL 499 , TARGET 590++
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Please trade at your own conviction.
Hi Friends,
Wanted to share this learning of SIMPLE PRICE ACTION Techniques that once practiced with patience yields results !!!
#FANOFTRIANGLES
#PRICEACTION
#SWINGANDPOSITIONAL
PRICE ACTION USED
BREAKOUT FROM DESCENDING TRIANGLE IN DAILY
RETEST IN DAILY FORMING SUPPORT
BREAKOUT AND RETEST IN HOURLY FORMING SUPPORT
ENTRY
Thanks For Your Time....
Ascending Triangle Definition:
An ascending triangle is a type of triangle chart pattern that occurs
when there is a resistance level and a slope of higher lows .
It is defined by two lines:
. A horizontal resistance line running through peaks.
. An uptrend line drawn through the bottoms.
The higher lows indicate more buyers are...
