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Ascending Triangle

Analysis for NIFTY (30.8.2021)This is a nifty analysis. And it is showing ASCENDING TRIANGLE PATTER. And it is a BULLISH PATTERN. HOW ASCENDING TRIANGLE WORKS An ascending triangle is a chart pattern used in technical analysis. It is created by price moves that allow for a horizontal line to be drawn along the swing highs, and a rising trendline to be drawn along the swing lows. The two lines form a triangle. Traders often watch for breakouts from triangle patterns. The breakout can occur to the upside or downside. Ascending triangles are often called continuation patterns since the price will typically breakout in the same direction as the trend that was in place just prior to the triangle forming. An ascending triangle is generally considered to be a continuation pattern, meaning that the pattern is significant if it occurs within an uptrend or downtrend. Once the breakout from the triangle occurs, traders tend to aggressively buy or sell the asset depending on which direction the price broke out. Increasing volume helps to confirm the breakout, as it shows rising interest as the price moves out of the pattern. Volume tends to be stronger during trending periods than during consolidation periods. A triangle is a type of consolidation, and therefore volume tends to contract during an ascending triangle. As mentioned, traders look for volume to increase on a breakout, as this helps confirm the price is likely to keep heading in the breakout direction. If the price breaks out on low volume, that is a warning sign that the breakout lacks strength. This could mean the price will move back into the pattern. This is called a false breakout. KEY POINTS 1. The trendlines of a triangle need to run along at least two swing highs and two swing lows. 2. Ascending triangles are considered a continuation pattern, as the price will typically breakout of the triangle in the price direction prevailing before the triangle. 3. Although, this won't always occur. A breakout in any direction is noteworthy. 4. A long trade is taken if the price breaks above the top of the pattern. 5. A short trade is taken if the price breaks below the lower trendline. 6. A stop loss is typically placed just outside the pattern on the opposite side from the breakout. 7. A profit target is calculated by taking the height of the triangle, at its thickest point, and adding or subtracting that to/from the breakout point.
NSE:NIFTY
by capitalsmack
SIMPLE AND EFFECTIVE TRADE SETUP ON VARUN BEVERAGESFew pointers about my analysis of VARUN BEVERAGES : 1.The stock has been in a continuous uptrend with lots of bullish continuation patterns ,which is good for healthy upward trend, higher the no. of valid patterns better it is. 2.The stock just broke out of an ascending triangle pattern , which is again is a continuation pattern. 3.Volume spurt : breakout supported by decent volumes, supporting bullishness. 4.RSI breakout on daily chart and trading above 60. Short term view : Bullish Timeframe used : Daily Target : Use trailing SL or 50day MA Take away: entry has not yet been triggered , ideally one should wait for retest to enter. Disclaimer : This idea was to just give you an insight about my own view and personal observations. Please do your own research or consult an investment advisor before doing any investment or trading.
NSE:VBLLong
by saikrishna9999
NALWA SONS INVEST - ASCENDING TRIANGLE PATTERN BREAKOUT.Nalwa Sons Invest' Stock is broken out from Ascending Triangle Pattern which can be a bullish or bearish pattern . So the stock may go long or short. As the retesting is done on the long side, Chances to go short is very low. Please check the chart for details. Mentioned clearly about the support and resistance points. I am learning as well. so please analyse the chart by yourselves before taking any decisions. Criticism always welcomed
NSE:NSIL
by Purush_cad