Pattern : Ascending Channel
What is Ascending Channel?
An ascending channel is the price action contained between upward sloping paralle lines.
We can draw trendline by connecting Higher high and higher lows to form a channel.
Support and resistance zone can be seen by connecting wicks.
Ascending channel shows uptrend of an undelying.
It looks like Ethereum is clearly forming a descending triangle on the 4h.
The technical target is at around $4450, this is in confluence with the .618 trend based fib extension (so hopefully setting a new ATH and not a scammy one such as last week).
The RSI indicates that there is space for more upside potential
I think that we still can see some volatility...
Banknifty is tracing a Ascending triangle from 1st Oct taken 2 rejections from 38116 level. 1 more rejection may be possible at 38116 but if it breaks that resistance and sustains we may expect Banknifty to reach as high as 39350 levels very soon. If it fails to break upside and gives a break out in downside then we can expect a good fall upto 36900 levels. Don't...
This stock is near its resistance and formed an ascending triangle pattern. IT CAN REACH UP TO 280++ once it breaks out from 235 level with volume, watch out for the mentioned level.
Note: This is just for educational purpose, not an buy/sell recommendation.
Watch United Spirits(Mcdowells) which is in Monthly level triangle formation. Now it is in the upper end of the triangle. But when it reached the bottom of the triangle or wait for breakout and retest.
The stock was moving in an ascending pattern on the lower trend line, and has now crossed the top resistance level. It is now trending closer to its all time high of 224.5, which is given as a near term target.
Break out happened with significant volume, suggesting that the trend is expected to continue.
Depending on your risk profile, you may maintain a stop...
The stock has been following the ascending trend of higher highs and higher lows for a few weeks now.
There is a pattern emerging by looking at the chart, which I have divided in 3 phases.
Each phase is preceded by high volume, followed by consolidation. As soon as the price has touched the trendline, we have observed a spurt in volume and price.
If the history...
IT IS A CONSOLIdation phase.
wait and once it susstains 88 level ten you can go for a buy.
there is ascending triangle
FOR THE TARGETS OF 105
ITS 2O EMA & 50 EMA ARE PROVIDING STRONG SUPPORTS AS YOU CAN SEE ON THE CHART.
KEEP THHE STOP LOSSES AT THESE 2 EMAs.
Hindalco Industries weekly chart shows ascending triangle pattern is ready for breakout. High volume is seen since last 4 weeks. Breakouts that occur on high volume (relative to normal volume) show greater conviction which means the price is more likely to trend in that direction. Can buy in dips with a long term target of 363. Weekly chart time frame for charts...
This ascending triangle formation in eclerx needs to be observed for breakout on the upside for a potentially rewarding target of 90 to 100 points
For information and entertainment purpose only
Trade at your own risk and knowledge.
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